If we observe that when a consumer's income rises by 10%, the quantity demanded of chocolate candy bars increases by 15%, then chocolate candy bars are are a normal good for that consumer
a. True
b. False
Indicate whether the statement is true or false
True
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Most doctors are employed by the government and most hospitals are owned by the government in
A) Canada. B) Japan. C) the United Kingdom. D) the United States.
Which of the following is false about quantity discounts?
a. Quantity discounts are a form of price discrimination which allow a seller to charge a higher price for the first unit than for later units. b. Quantity discounts allow price discriminating producers to extract additional consumer surplus from customers. c. Price discrimination, such as offering quantity discounts, can result in a greater output, and thus greater consumer surplus and producer surplus, by a monopolist than if price discrimination was not possible. d. Quantity discounts benefit those customers who would not buy any of a monopolist's product at the price that the monopolist would charge if it could not price discriminate.
Unemployment that occurs from fundamental technological changes in production, or from the substitution of new goods for customary ones, is known as
a. underemployment b. seasonal unemployment c. frictional unemployment d. structural unemployment e. cyclical unemployment
Contractionary monetary policy, achieved by selling bonds in the open market, tends to discourage investment.
a. true b. false