Referring to the Production Possibilities Frontiers in Figure 1.10 A, B, C, and D, which depicts specialized growth in pizza when there is constant opportunity cost?
Figure 1.10
A. Fig. A
B. Fig. B
C. Fig. C
D. Fig. D
Answer: D
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In our study of monopoly, we found that monopolists can increase profit by segmenting the market and price discriminating (under third degree price discrimination). Now suppose a firm is producing an excludable local public good. Can you justify a form of such market segmentation and price discrimination as efficient?
What will be an ideal response?
In the simple deposit expansion model, if the Fed purchases $100 worth of bonds from a bank that previously had no excess reserves, deposits in the banking system can potentially increase by
A) $10. B) $100. C) $100 times the reciprocal of the required reserve ratio. D) $100 times the required reserve ratio.
If the level of consumption is? $120 billion and disposable income is? $150 billion, then the
A. APC? = 0.8 and saving is positive. B. APC? = 0.8 and saving is negative. C. APC? = 0.75 and saving is positive. D. APC? = 0.75 and saving is negative.
Which of the following goods is NOT an example of a good that carries an advance purchase discount?
A. Airline tickets B. Refrigerated milk C. Prepaid tuition plans D. "Early bird" conference registration