People who spend more time and effort investigating the advantages and disadvantages of different automobile models when they go to purchase one than they do investigating the strengths and weaknesses of presidential candidates are saying, in effect, that
a. a good car is more important to their well-being than a good president.
b. they expect to use the information on the merits of alternative cars to greater personal advantage than they could information on the merits of alternative presidential candidates.
c. they are irrational, because the choice of a president is obviously far more important than the choice of a car.
d. they do not think it matters who is elected president.
B
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If the current price level is lower than the equilibrium price level, then it must be true that total planned
A) government spending is less than total planned tax revenues. B) government spending exceeds total planned tax revenues. C) real expenditures are less than total planned production. D) real expenditures exceed total planned production.
For effective price discrimination to occur, a seller must
a. be a pure monopolist. b. have large economies of scale and control over a key natural resource. c. face a horizontal demand curve for its product. d. be able to prevent consumers from reselling the product to other consumers.