When theaters charge lower prices for matinee showing, it is not price discrimination, since it is more expensive to operate a theater during the day, as compared to the evening hours.
Answer the following statement true (T) or false (F)
False
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The new GATS and TRIPS are separate agreements negotiated within the WTO framework as part of the Uruguay Round that apply to
A) services and aircraft. B) services and transportation. C) agriculture and textiles. D) services and intellectual property. E) textiles and transportation.
Which of the following equations is always correct in an open economy?
a. NX = Y - C - G - I b. NX = S - I c. NX = NCO d. All of the above are correct.
Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed is ________ and the new unemployment rate is ________.
A. 93.9 million; 6.1 percent B. 100 million; 6.1 percent C. 100.1 million; 5.8 percent D. 94.1 million; 5.9 percent
The power of the supply and demand model lies in its ability
A) to generally predict how price and quantity will change with supply and demand shocks. B) to precisely predict the impact of government regulations on quantity and price. C) to precisely determine the difference between price ceilings and price floors. D) to generally predict how profit motive impacts the distribution of goods and services.