The statement that ________ is a positive statement
A) more students should study economics
B) the price of gasoline is too high
C) too many people in the United States have no health care insurance
D) the price of sugar in the United States is higher than the price in Australia
D
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A firm is charging a different price for each unit purchased by a consumer. This is called
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) fourth-degree price discrimination. E) fifth-degree price discrimination.
Measuring expenditures and income with the price level held constant, so that any changes in these values represent changes in the actual amount of goods, services, and income is denoted in ________ terms
A) nominal B) real C) constant dollar D) all of the above
Decreases in the demand curve for labor may arise from ____ in labor productivity or from ____ in the price of the good
a. increases; increases. b. increases; decreases. c. decreases; increases. d. decreases; decreases.
Refer to the graph shown. Suppose an economy begins at point B but then adopts a contractionary monetary policy. In the long run, this policy would most likely:
A. lower inflation to 3 percent but raise unemployment to 7.5 percent. B. lower inflation to 3 percent but leave unemployment at 5.5 percent. C. raise inflation to 9 percent but lower unemployment to 4 percent. D. raise inflation to 9 percent but leave unemployment at 5.5 percent.