One nation can gain from an exchange only at the expense of another
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following reasons explains how second-degree price discrimination works?
A. In order to get people to buy more of a good you typically have to lower the price because of the law of demand. B. The price of the good or service is what the consumers are willing and able to pay, which increases profits. C. People will buy more of a good when they have relatively inelastic demands for the good. D. Producers have increasing average total costs as they produce more of a good.
Gross investment minus net investment is equal to:
A. depreciation. B. nominal investment. C. real investment. D. consumption.
The Keynesian short-run aggregate supply curve is demonstrated graphically as a
A. downward sloping curve. B. upward sloping curve. C. horizontal line. D. vertical line.
Per capita gross national income (GNI) decreases when
A. GNI increases and the population does not change. B. GNI and the population decrease at the same rate. C. GNI does not change and the population increases. D. GNI and the population increase at the same rate.