Which of the following is NOT a condition for third degree price discrimination?
A) Monopoly power
B) Different own price elasticities of demand
C) Economies of scale
D) Separate markets
C
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In the United States there were legal reserve requirements on time and savings deposits during most of the post-World War II period. Therefore, the money multiplier for the M1 definition was
a. smaller when time and saving deposits increased. b. smaller when time and saving deposits were assumed to be fixed. c. larger when time and saving deposits increased. d. smaller when time and saving deposits decreased.
Resource prices will fall and short-run aggregate supply will increase if
a. current output exceeds the economy's full-employment level. b. current output is less than the economy's full-employment level. c. the actual rate of unemployment is less than the natural rate of unemployment. d. exports exceed imports.