When a hair stylist charges men less than women for a haircut because men's hair take less time to cut, the hairstylist is practicing price discrimination.
Answer the following statement true (T) or false (F)
False
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Mountain bikers and rollerbladers share the only trail in a city park. The city allows everyone into the park and onto the trail. The mountain bikers say the rollerbladers are a hazard to them; the rollerbladers say it's the other way around. Frequently there are collisions, and many injuries occur. What is the property rights problem?
a. Rollerbladers do not have mountain bikes. b. Bikers do not have rollerblades. c. No one owns both bikes and blades. d. No one has property rights to the use of the trail. e. No one owns the park.
Which of the following is correct?
a. An increase in the tariff on foreign-produced automobiles will benefit U.S. consumers of domestic cars. b. An ongoing result of the North American Free Trade Agreement is that producers in both countries will benefit at the expense of consumers. c. The wages of U.S. workers would sharply decline if we traded freely with low-wage countries like India and China. d. Exports provide a nation with its primary source of purchasing power used to buy imported goods.
Government actions to increase competition
What will be an ideal response?
A decrease in interest rates will
A. shift the investment function relating planned investment to the interest rate to the left. B. be a movement along the investment function relating planned investment to the interest rate. C. shift the investment function relating planned investment to the interest rate to the right. D. have no impact on the investment function relating planned investment to the interest rate.