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Indicate whether the statement is true or false
False
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A distinguishing characteristic of public transfer payments is that they ________.
A. involve no contribution to current production in return for the payment B. include the cost of maintaining public parks C. are counted as part of government purchases in the calculation of the gross domestic product D. include wages to government workers
In the short-run macro model, cyclical unemployment is caused by insufficient spending
a. True b. False
Which statement is true?
A. Only monopolists can truly engage in price discrimination. B. Price discrimination violates our basic constitutional rights. C. Price discrimination occurs when a seller charges two or more prices for different goods or services. D. The firm that practices price discrimination needs to be able to distinguish between two or more separate groups of buyers.
A. firms are worried that frequent price changes would annoy consumers. B. most firms have agreements with each other to fix prices at profit-maximizing levels. C. government controls most prices. D. foreign competition discourages domestic firms
from price changes. A. Government regulations limit the number of times a firm can change prices in a year. B. In most industries the profit-maximizing price does not change even when demand changes. C. Production costs do not tend to change when a firm varies its level of output. D. Firms may be reluctant to change prices for fear of setting off a price war or losing customers to rivals.