Price discrimination allows a producer to
A. Reap the highest possible average price for the quantity supplied.
B. Decrease total costs.
C. Increase the elasticity of consumer demand.
D. Minimize marginal costs.
Answer: A
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The automatic budget surpluses and budget deficits that occur in the federal budget over the business cycle
A) stabilize the economy. B) destabilize the economy. C) decrease potential GDP. D) increase potential GDP.
Suppose y is measured on the vertical axis, x is on the horizontal axis, and the various combinations of x and y are shown by a nonvertical straight line. Which of the following must be true?
a. There is a negative relation between x and y. b. There is a positive relation between x and y. c. There is a causal relation between x and y. d. If the value of x is known, the value of y can be determined. e. The value of y is independent of the value of x.
Which kind of lag is important for monetary policy? Which kind of lag is important for fiscal policy?
What function is money serving when you deposit money in a savings account?
A. A medium of exchange. B. A unit of account. C. A store of value. D. A checkable deposit.