An example of price discrimination is the price charged for:
a. an economics textbook at a campus bookstore.
b. gasoline.
c. theater tickets that offer lower prices for children.
d. a postage stamp.
c
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Which of the following is NOT a tool used by the Fed to implement monetary policy?
A. Printing Federal Reserve notes and minting coins B. The discount rate C. The reserve requirement D. Open market operations
The evidence cited in the chapter using the examples of the East Asia New Industrializing Countries suggests that as international productivities converge, so do international wage levels
Why do you suppose this happened for the East Asian NICs? In light of your answer, what do you think is likely to happen to the relative wages (relative to those in the United States) of China in the coming decade? Explain your reasoning.
The lending facility that allows any bank to borrow reserves from the Fed is called the:
A. reserve window. B. discount window. C. borrower of last resort. D. reserve rate.
The demand curve for a monopolistically competitive firm is
A) elastic because the products produced are homogeneous. B) inelastic because of barriers to entry. C) inelastic because of the profit maximizing behavior of the firm. D) elastic because of product differentiation.