Price discrimination only occurs under monopoly.
Answer the following statement true (T) or false (F)
False
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The real-balance effect implies that when
A) the price level decreases, the value of money balances held by individuals, firms, government, and foreigners increases and spending decreases. B) the price level increases, the value of money balances held by individuals, firms, government, and foreigners increases and spending increases. C) the price level increases, the value of money balances held by individuals, firms, government, and foreigners decreases and spending decreases. D) the price level decreases, the value of money balances held by individuals, firms, government, and foreigners decreases and spending decreases.
Manufacturers produce only what the market is willing to pay for.
Answer the following statement true (T) or false (F)
What would be an example of consumption good?
A) Antonio, the manager of the local Taco Hut, purchases a new deep fryer. B) The local driver's license office purchases a new digital camera and printer. C) Rhianna gets a haircut. D) Jake buys an iPhone. E) Donald Trump purchases furniture for his office.
The term "market" refers only to trading arrangements that have been approved by the government
Indicate whether the statement is true or false