If technology improves when a nation is in the intermediate range and only the Aggregate Supply changes, then:
a. Real GDP rises and average price level falls.
b. Real GDP rises and real GDP remains the same.
c. Real GDP remains the same and average price level falls.
d. Real GDP remains the same and average price level rises.
e. Real GDP remains the same and average price level remains the same.
.A
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A local theater charges $5.00 for every matinee (daytime) ticket, but the ticket prices are much higher during the evening. This is an example of
A) peak-load pricing. B) second-degree price discrimination. C) a two-part tariff. D) bundling. E) none of the above
Under a floating rate system, exchange rates are determined by supply and demand in the foreign exchange market without government intervention
a. True b. False
The European Union labor markets are different from that of the United States in that:
A) language adds a barrier to free movement of labor in the European Union. B) there is less labor regulation in the European Union. C) persistent unemployment exists in member countries in the European Union. D) language adds a barrier to free movement of labor in the European Union and persistent unemployment exists in member countries in the European Union.
The operating profitability of casinos comes primarily from the fact that
A. the expected value of any gamble (to the gambler) is negative. B. they typically charge an enormous amount for alcohol. C. they typically have a significant cover charge. D. the expected value of any gamble (to the casino) is negative.