The 1920s was a period of alcohol prohibition in the United States. During the 1920s,
A) the purchase and sale of alcohol was illegal.
B) people coordinated their alcohol production and consumption activities in illegal, underground markets.
C) the supply of alcohol became quite inelastic.
D) all of the above were true.
E) none of the above were true.
D
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In the United States
A) there are more households with incomes below the mean income than above the mean income. B) there are more households with incomes above the mean income than below the mean income. C) the mode income equals the mean income. D) the income distribution is bell shaped.
Which of the following conditions would prevent price discrimination?
a. an economic profit b. a monopoly market structure c. profit maximization d. the inability to identify those customers willing to pay more e. the ability to prevent low-price customers from reselling to high-price customers
An increase in the budget deficit causes domestic interest rates
a. and net capital outflow to rise. b. to rise and net capital outflow to fall. c. to fall and net capital outflow to rise. d. and net capital outflow to fall.
An example of a transaction that will be a surplus item on the U.S. balance of payments is
A. a Nissan plant in Tennessee buying parts from the main plant in Japan. B. the purchase of a BMW by an American. C. a gift of cotton from the United States government to Egypt. D. the purchase of Alphabet stock by a German resident.