Price discrimination
A. may lead to greater output.
B. always leads to a reduction of output.
C. leads to lower profits for the firm.
D. causes firms to operate at a higher cost.
Answer: A
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Under Bretton Woods,
A) any foreign country cannot devalue its currency against the dollar in conditions of "fundamental disequilibrium." B) any foreign country could devalue its currency against the dollar in conditions of "fundamental disequilibrium," but the system's rules did not give the United States the option of devaluing against foreign currencies. C) any foreign country could devalue its currency against the dollar in conditions of "fundamental disequilibrium," and the system's rules did give the United States the same option of devaluing against foreign currencies. D) the U.S. could devalue its currency against the foreign currencies in conditions of "fundamental disequilibrium." E) any foreign country can revalue its currency against the dollar in conditions of "fundamental disequilibrium."
Toyota's just-in-time system is an example of
A) backward (upstream) integration. B) quasi-vertical integration. C) using transfer pricing to avoid price controls. D) horizontal, downstream integration.
One undesirable effect of social regulation is that it
A) affects smaller firms disproportionately, creating anticompetitive effects. B) destroys incentives for firms to engage in marginal cost pricing. C) raises prices of goods to consumers, while lowering prices to business and special interest groups. D) reduces the effectiveness of economic regulation.
In the long run,
a. the Phillips curve is upward sloping. b. the Phillips curve is downward sloping. c. monetary policy can influence the unemployment rate. d. monetary policy cannot influence the unemployment rate. e. the Phillips curve is horizontal.