Refer to Figure 2-10. If the economy is currently producing at point D, what is the opportunity cost of moving to point B?
A) 16 thousand spoons B) 46 thousand forks
C) 0 forks D) 60 thousand spoons
C
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A national chain of bookstores has initiated a frequent buyer program. If you buy a frequent buyer card for $10, you are entitled to a 10 percent discount on all purchases for 1 year. This practice is an example of:
A) peak-load pricing. B) intertemporal price discrimination. C) two-part tariff. D) bundling. E) Both A and B are correct.
What are some of the key economic factors that characterize countries with poor growth records?
If the unemployment rate rises, which policies would both be appropriate to reduce it?
a. increase taxes, increase government spending b. increase taxes, decrease government spending c. decrease taxes, increase government spending d. decrease taxes, decrease government spending
An economic system in which a central authority makes all economic decisions
a. command economy b. traditional economy c. market economy d. free enterprise economy