An example of a one-time expense for a shoe factory would be buying:
A. leather to make the shoes, and would be excluded from total cost.
B. leather to make the shoes, and would be included in total cost.
C. a sewing machine, and would be included in total cost.
D. a sewing machine, and would be excluded from total cost.
Answer: C
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According to an old saying, when too much money is chasing too few goods, we have a(n)
a. recessionary gap. b. inflationary gap. c. full employment. d. paradox of thrift.
Price discrimination
a. forces monopolies to charge a lower price as a result of government regulation. b. is an attempt by a monopoly to prevent some customers from purchasing its product by charging a high price. c. is an attempt by a monopoly to increases its profit by selling the same good to different customers at different prices. d. increases the consumer surplus associated with a monopolistic market.