Price discrimination is:
(a) The practice of charging different prices to different consumer groups for the same goods or services.
(b) Illegal.
(c) An example of returns to scale.
(d) All of the above.
Answer: (a) The practice of charging different prices to different consumer groups for the same goods or services.
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The duration of an expansion is measured from:
A. peak to peak. B. peak to trough. C. trough to trough. D. trough to peak.
In the 1965 to 1973 period, U.S. policymakers ________
A) targeted an unemployment rate that, in hindsight, was likely too low B) pursued an easing of monetary policy designed to increase aggregate demand C) made some mistakes that led to the most sustained inflationary episode in U.S. history D) all of the above E) none of the above
The New Keynesian transmission mechanism for monetary policy is characterized by
A) helicopter drops of money. B) money having an impact on the real interest rate. C) banks using money injections for business loans. D) the government buying goods with fresh money.
If the price of a good increases compared to the base year, then the price level also increases
a. True b. False Indicate whether the statement is true or false