For effective price discrimination to occur, a seller must
a. be a pure monopolist.
b. have large economies of scale and control over a key natural resource.
c. face a horizontal demand curve for its product.
d. be able to prevent consumers from reselling the product to other consumers.
D
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Paul Volcker, former chair of the Fed, implemented
a. contractionary policy which increased the popularity of the U.S. president who had appointed him. b. contractionary policy which decreased the popularity of the U.S. president who had appointed him. c. expansionary policy which increased the popularity of the U.S. president who had appointed him. d. expansionary policy which decreased the popularity of the U.S. president who had appointed him.
The sample regression line
A. maximizes the sum of the squared differences between the data points in a sample and the sample regression line. B. shows the actual (or true) relation between the dependent and independent variables. C. is used to estimate the population regression line. D. is estimated by the population regression line. E. connects the data points in a sample.
Technological innovations are not necessarily major scientific breakthroughs.
Answer the following statement true (T) or false (F)
A problem with the use of aggregate demand management to stabilize the business cycle is that
A. fiscal policy takes a long time to have any impact on the economy. B. monetary policy isn't available to use when interest rates are already rising because of higher inflation. C. the precise amount that output will change in response to monetary or fiscal policy isn't known. D. monetary policy is difficult to use, because the decision-making process is long and complicated.