Which of the following must exist for a firm to engage in price discrimination?
A) The firm must be able to identify and separate its buyers into different classes, and the low-price buyers cannot resell the product to the high-price buyers.
B) The firm must face an inelastic demand.
C) The firm must be able to realize economies of scale.
D) The firm must have no more than one class of buyer.
E) The firm must be a natural monopoly.
A
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Wealth decreases as a result of ________ and/or ________.
A. positive saving; capital gains B. negative saving (borrowing); capital gains C. negative saving (borrowing); capital losses D. negative saving (borrowing); crowding out
Many people perceive erroneously that most macroeconomists spend a lot of time engaged in
A) forecasting. B) macroeconomic research. C) macroeconomic analysis. D) data development.
Which of the components of total planned autonomous spending has a negative multiplier, and one which is lower in absolute value than the multiplier of the others?
A) autonomous consumption B) net taxes C) planned investment D) government expenditure E) net exports
Figure 4-16
Assume that Figure 4-16 shows the supply of new houses. An improvement in the technology for building houses will shift supply from
a.
S1 to S2.
b.
S2 to S1.
c.
S3 to S2.
d.
S3 to S1.