Autonomous tightening of monetary policy involves ________
A) raising interest rates and shifting the MP curve to the right
B) lowering interest rates and shifting the MP curve to the left
C) raising interest rates and shifting the MP curve to the left
D) lowering interest rates and shifting the MP curve to the right
E) none of the above
C
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A decrease in the personal income tax rate ________ disposable income which ________ consumption
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
A doctor charges two different prices for medical services, and the price level depends on the patients' income such that wealthy patients are charged more than poorer ones. This pricing scheme represents a form of
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) pricing at each consumer's reservation price.