Which of the following would likely be studied in a macroeconomics course?
A) the unemployment rate
B) total output for an economy
C) the inflation rate
D) all of the above
D
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Which of the following is TRUE?
A) Monopoly results in a higher quantity of output being sold compared with perfect competition. B) Price discrimination occurs when there are differences in prices that reflect differences in marginal cost. C) Charging all customers the same price when costs vary can actually be a case of price discrimination. D) Price discrimination guarantees that the monopolist will make a profit.
Governments may choose to intervene in a market in an attempt to:
A. encourage the consumption of certain goods. B. discourage the consumption of certain goods. C. redistribute surplus. D. All of these are true.
The Food Stamp program provides
a. quality labels on food b. cash transfers to the poor c. cash transfers to the elderly d. vouchers that can be redeemed for food e. food deliveries to the elderly
Resources are scarce
a. because there is always a greater demand for them than there is a supply of them b. only if the resources are nonrenewable c. only if the resources are renewable d. because all resources are nonrenewable e. because all resources are renewable