Often, candidates running for political office will speak in general terms instead of specific terms because voters agree more on __________ than __________
A) benefits; costs
B) costs; benefits
C) means; ends
D) ends; means
E) none of the above
D
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Which of the following conditions must be TRUE so that a firm can profitably price discriminate?
A) The firm must be able to identify individual or groups of consumers with different demand curves. B) The firm must be able to identify how its consumers' demand curves differ. C) The good cannot be easily resold. D) All of the above.
If a liquidity trap exists, people are likely to be thinking that
A) bond prices are so low that they have nowhere to go but up; given this, now is a good time to be holding bonds. B) bond prices are so high that they have nowhere to go but down; given this, it is better not to be holding bonds. C) bond prices will soon rise so it is better to get out of bonds now. D) interest rates will soon fall.
Suppose currency traders believe that in the future, the United States will experience more rapid inflation than will Japan. The traders ______.
a. also believe that the U.S. dollar will soon appreciate in value b. will buy more U.S. dollars, pushing up the price c. holding U.S. dollars will convert them to yen, increasing the demand for yen d. also believe that Japanese consumers will soon demand more U.S. goods
The minimum point of the average variable cost curve is reached at the output level where:
A. marginal product is maximized. B. neither marginal nor average product is maximized. C. average and marginal products are maximized. D. average product is maximized.