In what three ways do people use their time?
a. market work, selling labor in the labor market, and leisure
b. producing their own goods and services, nonmarket work, and market work
c. nonwork, work, and leisure
d. market work, nonmarket work, and leisure
e. market work, nonwork, and leisure
D
Economics
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When a monopolist sells the same product at different prices and the prices are not related to cost differences, we have
A) monopoly pricing. B) marginal cost pricing. C) price discrimination. D) price differentiation.
Economics
Figure 14-6
In the situation shown in , how could the Fed return the economy to potential output?
a.
decrease government spending
b.
increase taxes
c.
decrease taxes
d.
shift to a more restrictive monetary policy
e.
shift to a more expansionary monetary policy
Economics