A good with an income elasticity of 0.4 is:

For many years, AT&T required customers to rent telephones from AT&T in order to receive phone service. This is an example of:

a. price discrimination. b. a tying contract. c. an interlocking directorate. d. exclusive dealing.

As an economic expansion approaches its peak, it is very likely that real GDP will

A) exceed nominal GDP. B) exceed potential GDP. C) equal nominal GDP but not potential GDP. D) be less than potential GDP. E) equal nominal GDP and equal potential GDP.