Which of the following is not an example of price discrimination?
a. IBM charges business users of its laser printer more than home users
b. Intel offered faster and slower versions of a computer chip
c. An amusement park charges the same admission fee to local residents and out-of-towners
d. Adobe stripped some features from Photoshop to offer a cheaper version
e. Holders of Nevada driver's licenses pay less to ride the Las Vegas monorail
C
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Which of the following does NOT increase the supply of personal computers, that is, does NOT shift the supply curve of personal computers?
A) a fall in the cost of the components used to assemble personal computers B) a change in the expected future price of a personal computer C) an advance in the technology used to produce personal computers D) an increase in the number of firms producing personal computer E) a rise the price of a personal computer
Country risk analysis involves a consideration of
A) forecasting future exchange rates. B) future export growth. C) the strength of political dissent. D) Both B and C.
Suppose the aggregate demand for housing in the U.S. includes a substantial speculative component. What happens of the expectations of speculators change, and they believe housing prices will not increase in the future?
A) The aggregate demand curve shifts leftward, and the equilibrium market price declines. B) The aggregate demand curve shifts leftward, and the equilibrium market price increases. C) The speculative demand curve shifts leftward, but the aggregate demand curve is unchanged. D) There is no change in the current demand for housing because speculators' expectations are based on future events.