Which of the following is a nonmarket good?
A) the corn you grow in your home garden and consume
B) the clothes you sew and sell to a neighbor who pays you by writing you a check
C) the self-portrait hanging in your den
D) a and c
E) a, b, and c
D
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A hotel with market power charges customers who check in before 5:00 pm more than those who check in after 5:00 pm. Those who check in early are much more likely to use the hotel's pool
Explain why this price difference may not be price discrimination.
Given the evidence presented in the Applied Perspective on China's population policy, it appears that by decreasing the rate of population growth, China
a. is likely to experience slower economic growth in the future b. has been able to increase the size of its agricultural sector relative to the industrialsector c. has become one of the major grain exporters in the world d. will lag behind India in population in the coming years e. has been able to shift more resources into capital accumulation to promote future economic growth