Inflation targeting does all of the following except:
A. communicate policymakers' objectives clearly and openly.
B. increase policymakers' accountability.
C. increase policymakers' credibility.
D. hinder economic growth.
Answer: D
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One major consequence of the federal government's deregulation of the trucking industry was
A) a sudden and large financial loss for owners of trucking firms. B) fewer jobs for truck drivers. C) higher prices paid by shippers. D) less competition for railroads and barge lines. E) predatory pricing in the trucking industry.
A firm practicing direct price discrimination will charge a higher price to
a. Consumers known to have an elastic demand b. All consumers c. Consumers known to have an inelastic demand d. Consumers known to have a unitary elastic demand
Externalities are costs to society, which have an impact on parties not directly involved into a particular economic transaction.
Answer the following statement true (T) or false (F)
If a monopoly discovers that the demand for its output has become more elastic at the original output level, then it will respond by
A) producing more and setting a higher price. B) setting a lower price. C) setting a higher price. D) producing more while leaving price unchanged.