An example of price discrimination is the price charged for:
a. theater tickets that offer lower prices for children.
b. gasoline.
c. an economics textbook at a campus bookstore.
d. a postage stamp.
a
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One of the key income tax topics debated during the 2008 Presidential election was whether the
A. 1986 tax increases should be repealed in 2011. B. Iraqi oil revenues should be taxed by the U.S. to provide care for disabled Iraqi War veterans. C. 2003 tax cuts should be allowed to expire in 2011. D. national sales tax should be abolished and replaced with a single income tax rate of 21%.
Referring to a production possibilities curve and the goods being compared, depict the economic event. The literacy rate increases among workers (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve B. A movement from a point on the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward)
The figure above shows the marginal revenue and costs of a perfectly competitive firm. When 170 units are produced, the
A) firm has total revenue of $2,720. B) firm's total costs are less than $2,720. C) firm is making an economic profit. D) All of the above are true.
If there is no one who is interested in borrowing from a bank:
A. the bank's excess reserves will be zero. B. there will be no process of money creation. C. the required reserve ratio must be equal to zero. D. the required reserve ratio must be equal to 100 percent.