Which of the following is TRUE?
a. Discount retailers can defeat price discrimination by the manufacturers through arbitrage
b. Arbitrage is not an effective way for retailers to defeat price discrimination by manufacturers
c. Retailers are incapable of defeating upstream price discrimination once the manufacturer sets prices
d. "High End" retailers can defeat price discrimination by the manufacturers through arbitrage
a
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If a union restricts the supply of labor but cannot change the demand for labor, the union ________ the wage rate and ________ the level of employment
A) raises; decreases B) raises; increases C) lowers; decreases D) lowers; increases
What is the value of the deposit multiplier in a 100-percent reserve banking system?
A) 0. B) 1 C) a value between 0 and 1 D) a value greater than 1