As inflation rates increase, shoppers will be forced to
a. shop more at a particular store.
b. spend less time comparing prices.
c. spend less time visiting other stores.
d. spend more time comparing prices.
d
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Pursuing comparative advantage means
A) adding up the plusses and minuses after a transaction. B) doing it to the other person first. C) making equal, fair exchanges for equally valued goods or services. D) sacrificing something less valuable for the sake of something more valuable. E) seeking relative status rather than absolute welfare.
Because each customer pays according to her willingness to pay, a consumer maximizes her consumer surplus under first-degree price discrimination
Indicate whether the statement is true or false
In the Classical model, an increase in aggregate demand leads to __________ real GDP and __________ price level
A) an unchanged; an unchanged B) a rising; an unchanged C) a rising; a rising D) an unchanged; a rising
The theory of "rational expectations" is most closely associated with __________ economists
A) Classical B) Keynesian C) Monetarist D) New Classical