When a hotel charges a much higher price for their luxury suites than their deluxe rooms, is this price discrimination?
A. No. These are two different goods/services.
B. Yes., as long as the price per square foot is the same.
C. Yes, as long as they are booked online.
D. Yes, as long as they offer both rooms to the same customer.
Answer: A
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Use the following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600What was the change in real GDP per capita between 1810 and 2010?
A. $43,600 B. $42,100 C. $69,100 D. $45,100
Which statement is true?
A. There was a great deal of stagflation in the 1970s. B. We had the worst recession since World War II in the late 2000s. C. We have had twelve recessions since January, 1945. D. All of the choices are true.
Cash distributions made by government to individuals when no good or service is received in exchange are known as __________.
a. poverty payments b. taxes c. transfer payments
One of the primary objections to the new classical model is that ________
A) firms could easily get information about price movements and so would not be fooled for very long B) price is negatively related to quantity demanded, but positively related to quantity supplied C) business cycles are relatively brief in duration D) it failed to incorporate rational expectations into its presentation