For a monopolist to practice price discrimination, one necessary condition is that the product offered for sale must be:
a. high quality.
b. expensive.
c. cheap.
d. impossible or difficult to resell.
d
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In reading the stock market quotes in the newspaper, the column with the heading "Ticker" gives the
A. number of shares of the stock traded that day. B. the full name of the company whose stock is being studied. C. stock symbol for the company. D. highest price the stock has sold for in the past year.
In the U.S. Steel case, the court ruled that:
A. even though a firm's behavior might be legal, the mere possession of monopoly power was in violation of the Sherman Act. B. only monopolies that unreasonably restrain trade are subject to antitrust action under the Sherman Act. C. when made by dominant firms, tying contracts are illegal, per se. D. the company violated the Clayton Act and therefore should be dissolved into several competing firms.
Something that affects the amount of money in existence will
A) affect all markets. B) have no particular effect. C) have an effect only if the change in money is large. D) not affect the economy as a whole but may affect certain key markets such as the market for loans.
The V in the equation of exchange represents the:
a. variation in the GDP. b. variation in the CPI. c. variation in real GDP. d. average number of times per year a dollar is spent on final goods and services.