Price discrimination
A. Is illegal.
B. Rarely occurs in the airline industry.
C. Is a method used by sellers to pit one buyer against the other.
D. Is a way for sellers to elicit the maximum willingness to pay from buyers.
Answer: D
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One factor that contributed to the growth in the share of population employed in the United States between 1960 and 2000 was increased:
A. female labor force participation. B. labor union participation. C. male labor force participation. D. minimum wages.
When equilibrium GDP is greater than potential GDP, jobs are plentiful and labor is in great demand.
Answer the following statement true (T) or false (F)
When the financial crisis occurred, policy makers were more concerned about the deficit than they were about addressing the financial crisis.
Answer the following statement true (T) or false (F)
The Core Personal Consumption Expenditures Index
A. strips out the cost of food and energy from the PCE. B. also includes producer prices (like the cost of iron ore). C. only includes food and energy. D. includes all goods and services people buy (not just what "average" people buy).