Suppose Slow Ketchup requires that, as a condition of purchase, all restaurants using its product must buy and make available its new sales product. This arrangement is an example of:
A. price-fixing.
B. an interlocking directive.
C. a tying contract.
D. price discrimination.
Answer: C
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Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100000 and the citizens of Toadhop gather for a townhall meeting to
find the socially optimal level of flood control, and they are successful, how much will each type A individual contribute in total? a. 1875 b. 1500 c. 875 d. 625
If the money supply increased by 10% and at the same time velocity decreased by 10%, then according to the quantity equation there would be no change in the price level
a. True b. False Indicate whether the statement is true or false
If over the next year the inflation rate in the euro area is higher than the inflation rate in Japan, then the euro should depreciate relative to the Japanese yen
a. True b. False Indicate whether the statement is true or false
Government programs such as Social Security or Medicare are examples of
A. controllable expenditures. B. automatic stabilizers. C. entitlements. D. discretionary spending.