In an open economy, the source for the demand for loanable funds is
a. national saving.
b. national saving + net capital outflow.
c. investment
d. investment + net capital outflow
d
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Which of the following is not one of the obstacles mentioned in the text to a successful system of price discrimination? Inability to
A) evade legal restrictions on discrimination. B) identify differences in demand among customers. C) prevent customers from reselling the product. D) prevent resentment from arising among the people who pay more.
Which of the following is not a principal-agent relationship?
a. Adam and Gloria get married. b. Payless, Getless, Inc., hires a salesperson. c. Dixie hires a lawyer. d. Citizens elect a state senator. e. Opal gets her car repaired.
Which of the following is an example of an indivisible input?
A. the amount of labor a firm hires B. flour used to produce bread C. wood used to produce paper D. train tracks between two cities
Which of the following is consistent with long-run equilibrium for a perfectly competitive market?
A. Average variable costs of production are maximized. B. Economic profits are positive. C. Average total costs of production are maximized. D. Maximum technical efficiency is achieved.