Cost-push inflation is due to:
a. raw material cost increases.
b. energy cost increases.
c. All of the answers are correct.
d. labor cost increases.
c
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When the price of the same product varies by locational attributes, it is an example of:
A) predatory pricing. B) first-degree price discrimination. C) second-degree price discrimination. D) third-degree price discrimination.
Seth is a competitive body builder. He says he has to have his 12-oz package of protein powder to "feed his muscles" every day. On the basis of this information, what can you conclude about his price elasticity of demand for protein powder?
A) It is perfectly inelastic. B) The price elasticity coefficient is 1. C) It is elastic. D) It is perfectly elastic.
If the demand curve a firm faces shifts to the right, usually
a. it would be impossible to tell whether the marginal revenue curve shifts. b. the marginal revenue curve would shift to the left. c. the marginal revenue curve would shift to the right. d. the marginal revenue curve would not shift.
According to Keynesians, __________ monetary policy will not remove the economy from a(an) __________ gap if __________
A) contractionary; recessionary; investment is interest-insensitive B) expansionary; recessionary; the economy is in the liquidity trap C) expansionary; inflationary; investment is interest-insensitive D) contractionary; inflationary; the economy has been in the inflationary gap for more than one year E) none of the above