A firm's ability to successfully practice price discrimination is greater
a. the more difficult it is to identify a customer's willingness to pay
b. the more standardized the product offered by the firm
c. the more difficult it is to transfer its product from person to person
d. the more active the resale market is for their product
e. in goods-producing markets than in service-producing markets
C
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Suppose that inventories were $80 billion in 2012 and $70 billion in 2013. In 2013, national income accountants would ________.
A. subtract $75 billion (= $150/2) from other elements of investment in calculating total investment B. add $10 billion to other elements of investment in calculating total investment C. add $75 billion (= $150/2) to other elements of investment in calculating total investment D. subtract $10 billion from other elements of investment in calculating total investment
If two goods are substitutes, then
a. an increase in the demand for one of them will lead to an increase in demand for the other b. an increase in the demand for one of them will lead to a decrease in demand for the other c. an increase in the supply of one of them will lead to an increase in supply of the other d. an increase in the supply of one of them will lead to a decrease in supply for the other e. they cannot be produced at the same time
The _____________________ is the effect of a change in the price of an input on the firm's relative use of the input to produce a given level of output
Fill in the blank(s) with the appropriate word(s).
Based on the above table, an open market operation in which the Fed purchased $100,000 of government securities would
A) lead to a maximum potential expansion of the money supply of $1 million. B) create a reserve deficiency for the banking system. C) cause demand deposits to fall by $100,000. D) lead to a maximum potential expansion of the money supply of $100,000.