Which of the following was not one of the likely causes of the productivity problem in the 1970s?
A. the increase in energy prices in the 1970s
B. a slowdown in investment spending
C. high saving rates
D. an increase in government regulation
Answer: C
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Which of the following is NOT an example of price discrimination?
a. A restaurant sets a fixed cover charge in addition to menu charges. b. A phone company charges different rates to residential and business users. c. An electric company charges different rates to senior citizens and younger adults. d. An airline sets different fares for adults and children.
What is the difference between microeconomics and macroeconomics?
What will be an ideal response?
The Federal Reserve banks could probably have prevented many of the bank failures in the early 1930s by: a. raising the reserve requirement of the commercial banks
b. lending money to the commercial banks. c. improving the system whereby checks are cleared. d. helping to create a commission of experts to engage in a prolonged study of the problem. e. selling large amounts of government bonds.
If a perfectly competitive firm is a price taker, then which of the following is true?
a. Pressure from competing firms will force acceptance of the prevailing market price. b. The firm must be a relatively small player compared to its competitors in the overall market. c. The firm can increase or decrease its output without affecting the overall quantity supplied in the market. d. Quality differences will be very perceptible and will play a major role in purchasers' decisions.