Building a good reputation:
A. is a form of screening.
B. is a form of signaling.
C. is a form of statistical discrimination.
D. None of these statements is true.
B. is a form of signaling.
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The total revenue test using the price elasticity of demand
A) explains why monopolies will only operate on the elastic portion of their demand curve. B) explains why monopolies will only operate on the inelastic portion of their demand curves. C) demonstrates why a monopoly can earn an economic profit in the long run. D) determines whether a monopoly can perfectly price discriminate or not. E) cannot be used for a price discriminating monopoly.
The ability of a central bank to set monetary policy instruments is
A) political independence. B) goal independence. C) policy independence. D) instrument independence.
At a given price level, an increase in stock market wealth will shift the aggregate demand curve:
A) rightward. B) leftward. C) both. D) none of the above.
A study by Edward Prescott found that the ________ marginal tax rates in the United States relative to Europe resulted in a ________ quantity of labor supplied in the United States
A) higher; larger B) lower; larger C) higher; smaller D) lower; smaller