When a monopoly perfectly price discriminates, there is ________
A) no producer surplus
B) an increase in supply
C) no consumer surplus
D) a large consumer surplus
C
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Under the Social Security program currently in existence
A) benefits are based on need. B) benefits are determined by whether or not one contributed to the system. C) benefits are provided to everyone who contributed to the system EXCEPT those under private retirement programs that provide an annual income in excess of $13,500. D) benefits are guaranteed to be no lower for future retirees than for current retirees.
Which of the following will benefit by an unexpected increase in inflation?
a. a union member with a COLA wage contract b. someone with a large stash of cash in a safe deposit box c. a bank lending money at a fixed rate of interest d. a person who is not due to receive a pay raise for another 11 months
All of the following are possible outcomes of a banking crisis EXCEPT
A) depositors, but not banks, may lose all or a portion of their assets. B) a recession due to decreases in consumption by households. C) decreases in investment. D) a contagion effect of the crisis from vulnerable banks to financial institutions on sound basis.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.