Which of the following would not be considered price discrimination?
a. Long distance telephone rates are cheaper late at night.
b. Airline fares are cheaper if you reserve several weeks in advance.
c. The price of lettuce is 59 cents a head and two for a dollar.
d. The price of a brand-name prescription drug is higher than the price of a generic brand.
e. Senior citizens pay less for a movie.
D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The unavailability of low-cost insurance contracts decreases the risks of liability for a traffic accident and increases the number of accidents
Indicate whether the statement is true or false
Within the framework of the AD/AS model, in the long run, output
a. will exceed the economy's long-run capacity. b. will be less than the economy's long-run capacity. c. will converge toward the economy's long-run capacity. d. must equal approximately 95 percent of the economy's long-run capacity.
(Consider This) From an economist's perspective:
A. small government is better than big government. B. big government is better than small government. C. regardless of size, government is incapable of achieving allocative or productive efficiency. D. the size of government doesn't matter, as long as spending occurs up to where MB = MC.