Today, Walt Disney World charges different customers different prices for admission. This pricing strategy is called
A) odd pricing.
B) arbitrage.
C) cost-price pricing.
D) price discrimination.
D
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The employees of Ajax cookies are on strike. Jane has decided not to shop at any store that is still selling Ajax cookies. This is known as
A) a closed shop. B) a union shop. C) a sympathy strike. D) a secondary boycott.
Americans buying Japanese cars create a
A) demand for U.S. dollars and supply of Japanese yen. B) demand for both U.S. dollars and Japanese yen. C) supply of U.S. dollars and demand for Japanese yen. D) supply of both U.S. dollars and Japanese yen.
According to economist Milton Friedman (1912-2006), the source of instability in the economy could be thought of as a:
A. baseball manager (the Fed) that removes his starting pitcher too soon and sees a five-run lead evaporate in a single inning. B. duck hunter (the Fed) who starts shooting at ducks well before they fly over. C. a camp councilor (the Fed) who is wearing a baseball cap that has two bills and says, "I am the leader; which way did they go?" D. backseat car passenger (the Fed) who occasionally leans over the front seat and abruptly
Consumer sovereignty implies that
a. producers determine what goods will be produced and consumers are free to choose from among them b. consumers choose the composition of our economy's output c. goods are produced on the basis of need d. the government directs the production of consumer goods in the economy e. a committee of consumers determines the key issues in the economy