The Robinson-Patman Act: a. Disallows all forms of price discrimination. b. Encourages oligopolies. c. Does not allow the customers to buy from high brands. d. Was enacted to prevent unfair pricing practices favoring larger retail establishments over smaller mom-and-pop stores.

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.