When pricing is used to limit entry, it is often described as
A) effective.
B) predatory.
C) exclusive.
D) aggressive.
B
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As a result of a kinked demand curve, the price:
a. fluctuates. b. falls below the kink. c. settles at the kink. d. rises above the kink.
For any change in net taxes, we can calculate the resulting change in equilibrium GDP by using the following formula:
a. change in GDP = -MPC/(1 - MPC) b. change in GDP = [-MPC/(1 - MPC)]? change in taxes c. change in GDP = MPC ? change in taxes d. change in GDP = MPC/(1 - MPC) e. change in GDP = [-MPC/(1 - MPC)] + change in taxes
Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
The public's willingness to pay for the 2nd acre of parkland is ________.
A. $14. B. $8. C. $6. D. $26.
Which of the following was not one of the likely causes of the productivity problem in the 1970s?
A. the increase in energy prices in the 1970s B. a slowdown in investment spending C. high saving rates D. an increase in government regulation