Price discrimination is
a. The practice of charging different prices to different individual buyers or customer groups
b. The practice of differentiating the product to make demand less elastic
c. The practice of deciding a single price to be charged to customers
d. Always illegal
a
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In the market for reserves, if the federal funds rate is above the interest rate paid on excess reserves, an open market sale ________ the supply of reserves causing the federal funds rate to ________, everything else held constant
A) decreases; decrease B) increases; decrease C) increases; increase D) decreases; increase
New entrants to the labor force usually account for around ________ percent of the unemployed
A) ten B) twenty C) twenty-five D) thirty
In which of the following is the relationship of price (P) to marginal cost (MC) such that the gains to society as a whole from producing additional marginal units will be greater than the costs?
a. P = MC b. P > MC c. P > MC d. P / MC
Growth in GDP per capita can only occur if the growth in:
A. Output is greater than the growth in population. B. Employment is greater than the growth in prices. C. Population is greater than the growth in unemployment. D. Prices is greater than the growth in output.