If a fast food restaurant gives senior citizens a 10% discount on food every day, this is an example of price discrimination. If they only give the discount on Tuesdays, it is not price discrimination.
Answer the following statement true (T) or false (F)
False
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Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office, they ________ of health care services than they would if they paid a price that better represented the true cost of
providing the service. A) supply a smaller quantity B) demand a smaller quantity C) demand a larger quantity D) supply a larger quantity
In order to simplify a complex situation, economic models often treat constraints as unalterable
Indicate whether the statement is true or false
Transfer payments are important for society because
a. the government needs to perform acts of goodwill to maintain citizens' support b. we could not count GDP without them c. they serve to redistribute money from one group of citizens to another d. government investment is an important component of GDP e. they result in lower taxes for citizens
Refer to the information provided in Figure 12.2 below to answer the question(s) that follow. 
Figure 12.2 Refer to Figure 12.2. The graph of this situation represents a partial equilibrium analysis because it
A. only shows two possible equilibrium points. B. considers only the personal computer industry. C. only shows a change in supply. D. shows changes to both price and quantity.