What is meant by a "discriminating monopolist"?
a. The firm discriminates on the basis of hiring workers.
b. The firm violates all antitrust laws.
c. The firm evades taxes.
d. The firm sells its product at different prices in different markets.
Ans: d. The firm sells its product at different prices in different markets.
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In the Keynesian model, whenever planned saving exceeds planned investment
A) the interest rate will remain unchanged. B) there will be unplanned inventory depletion. C) real GDP will not be influenced. D) there will be unplanned inventory accumulation.
When the market basket is tracked over time the goods within the basket:
A. remain the same, so only changing prices are captured. B. reflect the typical consumer each year, so it captures how consumers are affected each year. C. reflect the typical consumer each year, but prices are held constant, so it captures if we are consuming more or less as an economy. D. remain the same, but some prices are held constant on items that are important to consumers.
Goods and services that are nonexcludable and nonrivalrous, and tend to be indivisible are ______
A. public B. private C. both public and private D. neither public nor private
The rate of unemployment is a topic of microeconomics.
Answer the following statement true (T) or false (F)