"Personalized pricing" and "group pricing" are examples of:
A) first-degree and second-degree price discrimination, respectively.
B) second-degree and third-degree price discrimination, respectively.
C) first-degree price discrimination.
D) first-degree and third-degree price discrimination, respectively.
D
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What could Keynes have meant by his now famous statement, "in the long run we are all dead?"
A) Government intervention is destabilizing, will lead to slower growth in the long run, and will prevent an economy from self-regulating. B) Government intervention in the economy is necessary in times of recession because an economy rarely restores itself to full employment. C) Government intervention in the economy is useless because it takes too long to take effect. D) Government intervention in the economy is only effective if it is not erratic.
If the economy is experiencing an inflationary gap, classical economists argue that the Federal Reserve should lower interest rates
a. True b. False Indicate whether the statement is true or false