If nominal gross domestic product fell while real gross domestic product rose, which of the following must be true?
a) unemployment increased
b) the inflation rate was negative
c) net exports were negative
d) the average of stock prices rose while bond prices fell
e) nominal interest rates by less than the rate of inflation
Ans: b) the inflation rate was negative
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a. True b. False Indicate whether the statement is true or false
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If the firm were a perfect competitor in the long run, what price would it charge?
At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that
A) they can check the identification cards of golfers. B) local resident golfers and other golfers have the same price elasticity of demand to play at the municipal course. C) there are many golf courses nearby from which golfers can choose. D) they require all golfers to rent a cart.