A local theater charges $5.00 for every matinee (daytime) ticket, but the ticket prices are much higher during the evening. This is an example of
A) peak-load pricing.
B) second-degree price discrimination.
C) a two-part tariff.
D) bundling.
E) none of the above
A
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
According to your authors, market clearing
A) is planned by all buyers. B) is planned by all sellers. C) is planned by all buyers and sellers. D) is planned by economists and government agencies. E) is an unintended consequence of people pursuing their own plans.
The "trickle down" theory is based on the notion of multiplier effects
Indicate whether the statement is true or false
List and describe the three functions of money