Price discrimination refers to
A) selling a product at different prices according to the differences in marginal cost of providing it to different consumers.
B) selling a product at different prices, with the price difference being unrelated to differences in marginal cost.
C) charging the same prices to all consumers but selling them different quantities.
D) a deliberate effort on the part of a monopoly producer to confuse consumers.
Answer: B
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Refer to Figure 19-5. Suppose the pegged exchange rate is $0.11/yuan. Because of safety concerns and numerous product recalls, U.S. consumers lower their demand for Chinese products. Using the figure above, this would
A) decrease the shortage of Chinese yuan. B) decrease the surplus of Chinese yuan. C) increase the surplus of Chinese yuan. D) increase the shortage of Chinese yuan.
If European economies experience a strong economic recovery, U.S. net exports will
A. increase and AD will shift outward. B. increase and AD will shift inward. C. decrease and AD will shift inward. D. decrease and AD will shift outward.
The question of legality in daily fantasy comes down to
A. how big the bet is. B. whether it is a game of skill or chance. It is usually illegal if it is a game of chance. C. whether the points system is transparent. D. whether it is a game of skill or chance. It is usually legal if it is a game of chance.
Which of the following stock market increases is best explained by the notion of a bubble?
A. The U.S. stock market's growth in 2009 B. The late-1982 rally in which the DJIA doubled in 4 months C. The Japanese stock market in the late-1980s D. The decade of the 1980s