When government tries to change social norms, they:
A. might run an extensive ad campaign.
B. try to get consumers to internalize the cost or benefit they cause by their market decision.
C. are trying to change people's opinions about their actions.
D. All of these statements are true.
Answer: D
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Current Federal Reserve policy focuses on interest rates, rather than on monetary aggregates, because ________
A) monetary aggregates do not provide clear or consistent signals to guide policymakers B) open market operations affect interest rates more directly than they affect monetary aggregates C) according to the Fisher effect, the interest rate is a key determinant of the inflation rate D) all of the above E) none of the above
At the current price of a good, Jessica's consumer surplus equals 12, Lauren's consumer surplus equals 14, and Isabel's consumer surplus is 4. By perfect discrimination, a monopolist could increase his profit by
A) 4. B) 12. C) 16. D) 30.