Which of the following product pairs would NOT be good candidates for price discrimination through tying?
A) Razors and razor blades
B) Ink-jet printers and ink cartridges
C) Pencils and paper
D) Cellular telephones and cell phone service
C
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Answer the next question on the basis of the following information: Three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.If the per unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then real GDP in the current year is ________.
A. $160 B. $115 C. $45 D. $110
The multiplier effect
a. tells us nothing about how increases in investment spending affect GDP b. tells us that a change in investment spending changes equilibrium GDP by more than the change in investment c. works only for increases in investment d. is relevant only in situations where the marginal propensity to consume cannot be determined e. is relevant only in situations in which the MPC is between 0.5 and 0.7
Wages are comparatively low in markets where demand for labor is high and supply is low.
Answer the following statement true (T) or false (F)
The following are impediments to economic growth EXCEPT
A. dead capital. B. bureaucratic inefficiency. C. human capital development. D. lack of economic freedom.