All of the following are forms of price discrimination, except one. Which is the exception?
a. cents-off coupons for use at the grocery store
b. different prices for movie tickets for children and adults
c. making airline reservations 30 days in advance and receiving a lower rate
d. different prices for prescription drugs for senior citizens and others
e. different prices for "2nd day delivery" and "next day air delivery"
E
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According to the classical theory of international trade
A) only countries with low wages will export. B) only countries with high wages will import. C) countries with high wages will have higher relative prices of all goods. D) All the above are false.
If labor supply decreases, what will happen to the real wage rate, employment, and real output, assuming no change in labor demand?
a. The real wage will increase, employment will decrease, and real output will increase. b. The real wage will decrease, employment will decrease, and real output will increase. c. The real wage will increase, employment will decrease, and real output will decrease. d. The real wage will increase, employment will increase, and real output will increase. e. The real wage will decrease, employment will increase, and real output will increase.
Jose's restaurant operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue, ATC = $20, AVC = $15, and the price per unit is $10 . In this situation,
a. Jose's restaurant is earning a positive economic profit. b. Jose's restaurant should shut down immediately. c. Jose's restaurant is losing money in the short run but should continue to operate. d. the market price will rise in the short run to increase profits.
A “conservative” would most likely argue in favor of
A. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. B. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary. C. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. D. spending increases when fiscal expansion is necessary, and tax increases when fiscal stimulus is necessary.