If airlines give passengers under the age of 10 a 25% discount, then this is an example of price discrimination.

Assume an Australian importer expects to pay 16,000 Australian dollars (AUD) for $8,000 worth of U.S. goods, but on the shipment date 30 days later, the same volume of U.S. goods costs the Australian importer only 10,000 Australian dollars. This means that between the contract date and the payment date, the exchange rate has changed:

a. from $1 = 1.25 AUD to $1 = 2.0 AUD. b. from $1 = 2.0 AUD to $1 = 1.25 AUD. c. from $1 = 0.8 AUD to $1 = 0.5 AUD. d. from $1 = 0.5 AUD to $1 = 0.8 AUD. e. from $1 = 0.5 AUD to $1 = 2.0 AUD.

Which of the following is accurate about John Maynard Keynes?

a. He was one of the most influential economists in early U.S. history. b. He believed economics is a subject but not a way of thinking. c. He believed economics is not just a subject area but also a way of thinking. d. He believed that economics is not a subject but is a way of thinking.