A country club charges a membership fee. Members pay competitive prices for the club's recreation and restaurant services. This situation is an example of
a. first-degree price discrimination.
b. second-degree price discrimination.
c. third-degree price discrimination.
d. a two-part tariff.
d. a two-part tariff.
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By the year 2015, health care spending on Medicare, Medicaid, and other U.S. government programs as a percentage of GDP had reached a level of
A) 2.2 percent. B) 6 percent. C) 17.5 percent. D) 21.5 percent.
In an open economy, expansionary monetary policy will cause
A) consumption, investment, and net exports to rise. B) consumption to fall, but investment and net exports will rise. C) consumption to rise, but investment and net exports will fall. D) consumption and investment to rise, but net exports will fall.
A characteristic of outsourcing is
a. completely unrelated to vertical integration b. likely to be profitable exactly when vertical integration is unprofitable c. it prevents a firm from focusing on its core competencies d. it prevents the exploitation of differing degrees of economies of scale at different points in the supply chain
If you are at an all-you-can-eat buffet dinner and you are considering whether to eat another dessert, you, as a rational consumer should decide to eat the desert
A. no matter what because you want to get more for your money. B. if it brings you more pleasure than the price you paid for the meal. C. if it brings you any pleasure at all. D. if it brings you as much pleasure as the desert costs if it is ordered a la carte.