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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What is meant by the present bias?
What will be an ideal response?
Supply-side economists argue that taxing of nominal gains and interest earnings during inflationary periods
a. results in an increased effective tax rate on real returns but will not retard saving. b. will retard saving but will not increase the effective tax rate on real returns. c. will increase the effective tax rate on real returns and will retard saving. d. None of the above
When is an individual's labor supply curve most likely to be backward bending?
a. When substitution effects are large. b. When income effects are large. c. When wages are relatively low. d. When nonlabor income is low.
Which of the following identities regarding the balance of payments must be true?
a. Current-Account Balance + Capital Account Balance + Official Reserve Balance = 0 b. Current-Account Balance + Capital Account Balance + Official Reserve Balance = 1 c. Current-Account Balance + Capital Account Balance + Merchandise Imports = 0 d. Current-Account Balance + Capital Account Balance + Net Financial Inflow = 0