Relative to simple pricing, price discrimination leads to
a. Consumer surplus being converted to producer surplus
b. Increased profits
c. A simplified pricing schedule
d. Both a and b
d
Economics
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The exchange rate system followed by the United States is known as
A) the gold standard. B) a fixed exchange rate system. C) a flexible exchange rate system. D) a barter system.
Economics
The general-equilibrium analysis of a minimum wage applied to only some sectors of the economy suggests that
A) workers in all sectors will face increased wages. B) some workers in the covered sectors will lose their jobs and remain unemployed. C) some workers originally employed in the covered sectors will move to the uncovered sectors, driving down wages in the uncovered sectors. D) all workers will be worse off.
Economics