Inflation tends to ________ during a business cycle expansion and ________ during a business cycle recession
A) increase; decrease
B) decrease; increase
C) increase; increase further
D) decrease; decrease further
A
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Which of the following is NOT an example of the hurdle method of price discrimination?
A. Offering a mail-in rebate. B. Charging less for airline tickets if the trip includes a Saturday night stayover. C. Permanently reducing all prices by 10%. D. Giving a discount on movie tickets to people with a student ID.
Which confers a set of property rights?
A) A driver's license B) A land contract C) A passing score on a C.P.A. exam D) A successful election campaign E) All of the above.
Jackie notices everyone wearing Converse sneakers on the first day of school. Ever the fashionista, this will likely affect:
A. Jackie's income, as she now needs to buy Converse and will have less to spend on other goods. B. Jackie's preferences for shoes, since she feels as though she needs them now. C. Jackie's expectations of future prices, since the price of Converse will likely go up because they're getting so popular. D. the prices of related goods, since other shoes will be less popular and cost less now.
The marginal cost curve:
a. Declines initially as output increases and rises with further increases in output b. Is equal to the average variable cost curve c. Rises initially as output increases and declines with further increases in output d. Is always constant