In two-part pricing
A) consumers pay a lump-sum for all the goods purchased.
B) the consumer must pay a lump sum if he buys more than a certain number of units of a good.
C) a firm charges more for units purchased on the weekend than for those purchased during the week.
D) the average price paid per unit is higher with a small number of units purchased than if a large number of units is purchased.
D
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The precautionary demand for money is when people hold money
A) as a medium of exchange. B) for the interest it yields. C) to meet unplanned expenditures. D) as a store of value.
In game theory, a prisoner’s dilemma
A. never has a dominant strategy. B. is equivalent to a Nash equilibrium. C. always has the best result for the players when game is played repeatedly. D. is a game that has a preferred outcome for the players that is not an equilibrium.
Which of the following correctly identifies the impact of the formation of the North American Free Trade Agreement (NAFTA) on Mexico?
A. Mexican exports of fruits and vegetables to the United States declined substantially. B. NAFTA allowed Mexico to better exploit its comparative advantage in such products as apparel and food crops. C. After Mexico joined NAFTA, the average wage rates for the unskilled workers declined. D. Mexico's import of financial services and high-tech equipment from the United States declined.
If the supply and demand for a product both increase at the same time, the equilibrium price and equilibrium quantity of the product will both increase, ceteris paribus.
Answer the following statement true (T) or false (F)