Which of the following is an example of price discrimination?
a. Lower admission prices to movies for senior citizens
b. Lower prices for DVD players with fewer features than higher-priced players
c. Higher prices for houses in California than in Nebraska
d. A hair salon charging different prices for haircuts
a
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Mercantilism
A) is the philosophy of free international trade. B) was a system of export promotion and barriers to imports practiced by governments, especially in the 17th and 18th centuries. C) was praised by Adam Smith in The Wealth of Nations. D) Both A and C.
What is the most compelling evidence for the Keynesian interpretation of the Great Depression?
a. Increases in both the interest rate and the quantity of money b. Decreases in both the interest rate and the quantity of money c. An increase in the interest rate and a decrease in the quantity of money d. A decrease in the interest rate and an increase in the quantity of money
As a result of heavy spring rains in the Midwest, the corn crop declined sharply. If corn growers experienced an increase in sales revenue, the demand for corn must be
a. price elastic b. price inelastic c. unitary elastic d. perfectly inelastic e. perfectly elastic
Refer to the information provided in Figure 31.1 below to answer the question(s) that follow.
Figure 31.1Refer to Figure 31.1. Which of the following causes the ppf to shift from ppf2 to ppf3?
A. an increase in the population B. a decrease in the labor force C. technological progress D. a decrease in capital stock