Which of the following are necessary conditions for successful price discrimination?
a. zero transactions costs
b. a perfectly competitive market structure
c. an imperfectly competitive market structure
d. at least two different markets with different price elasticities of demand
e. at least two different markets with different price elasticities of supply
A) a, b, and d only B) c and d only C) a, c, d, and e only D) a and c only
B
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Growth in GDP systematically understates the growth in national well being because
a. ecological costs are netted out of GDP. b. "bads" as well as "goods" get included in GDP. c. investment is not included in GDP. d. as a country gets richer, leisure time increases.
Gross private domestic investment
a. excludes all investment in the United States by foreign firms. b. includes all capital in the United States. c. includes net additions to the capital stock plus all new corporate stocks and bonds. d. includes business expenditures on new factories, tools, and machinery.