Which of the following would be illegal according to the Robinson-Patman Act
a. "Party Packers" getting 10cents off every pack of ribbon they buy after 1000 units
b. "Sideline Superstore" receiving 50 cents off a crate of strawberries since it buys from many other suppliers
c. "Sam's Sandwiches" receiving 5 cents off per pound of cheese, since they are closer to the warehouse of the supplier
d. None of the above
a
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Microprudential supervision does all of the following EXCEPT
A) checking capital ratios of a bank. B) checking a bank's compliance with disclosure requirements. C) assessing the riskiness of an individual bank's activities. D) focusing on financial system liquidity.
As the variety of goods and services increases, barter becomes:
a. easier because the chance of there being a double coincidence of wants increases. b. harder because the chance of there being a double coincidence of wants increases. c. easier because the chance of there being a double coincidence of wants decreases. d. harder because the chance of there being a double coincidence of wants decreases. e. easier because people have more options to choose from.
Unemployment caused by a contraction in the economy is called: a. frictional unemployment. b. cyclical unemployment
c. structural unemployment. d. seasonal unemployment.
Answer the following statement(s) true (T) or false (F)
1. A budget surplus occurs if the amount of government spending is greater than the amount of tax revenues during a fiscal year. 2. The term "full employment" means that the unemployment rate is equal to zero. 3. Contractionary policies stimulate the economy to grow. 4. If the European economy is booming and US exports increase, aggregate demand (AD) increases. 5. Efficiency wages, a Keynesian theory of unemployment, posits that wages higher than the equilibrium wage are a cause of unemployment.