The laws that created the Fed give it some specific recommendations about what goals it should pursue so it has little discretion in making policy
a. True
b. False
Indicate whether the statement is true or false
False
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Certain vendors that market their goods via mail order have been known to send out catalogues to different regions of the country with items priced differently across regions
Assuming prices are matched to regions on a random basis, this practice would be considered an example of group pricing, or third-degree price discrimination. Indicate whether the statement is true or false
The Federal Constitution, like the laws under English rule, permitted the U.S. government to
(a) impose taxes to pay for government services and national defense. (b) regulate commerce with other countries. (c) create money and regulate its value. (d) do all of the above.
First-past-the-post voting structures tend to lead to a:
A. two-party system. B. three-party system. C. one-candidate system. D. multi-party system.
The difference between the price the seller receives for a good or service and the minimum price he would be willing to accept for that unit is called: a. the total gains from trading that unit. b. the gain in producer surplus
c. the gain in consumer surplus. d. the total surplus.