Suppose Charles spent a total of $350 for 350 bottles of mineral water he purchased in 2015 and a total of $350 for 320 bottles of mineral water (same size and brand) he purchased at the same store in 2016.

1. Charles' real consumption of mineral water in 2016 was his real consumption level in 2015.
2. Charles' nominal consumption of mineral water in 2016 was his nominal consumption level in 2015.

Select one:
A. the same as; greater than
B. less than; greater than
C. greater than; greater than
D. the same as; the same as
E. the same as; less than
F. less than; less than
G. greater than; less than
H. greater than; the same as
I. less than; the same as

Recently I clipped a Wendy's coupon which stated the following: "Buy One Baconator, Get One Baconator For $1." This offer is an example of a price engaging in price discrimination.

Select one:
A. taker; first-degree
B. taker; second-degree
C. taker; third-degree
D. maker; first-degree
E. maker; second-degree
F. maker; third-degree

Suppose 55-year-old Frank has a job at a fabricated metal factory, but he has not worked in the last five weeks due to a strike at the plant. Last week, he went to a machinery manufacturing company to see about getting a temporary job until the strike ends, one that he could begin immediately. According to the BLS household survey, Frank would be classified as:

Select one:
A. unemployed
B. not in the civilian noninstitutional population
C. not in the labor force
D. employed

1. Charles' real consumption of mineral water in 2016 was his real consumption level in 2015.
2. Charles' nominal consumption of mineral water in 2016 was his nominal consumption level in 2015.
3. Wendy's coupon example of price discrimination.
4. Frank's classification according to the BLS household survey.

1. Based on the information given, Charles spent a total of $350 for 350 bottles of mineral water in 2015, and the same amount, $350, for 320 bottles of mineral water in 2016. This means that his total expenditure on mineral water remained the same in both years. Therefore, his real consumption of mineral water in 2016 was the same as his real consumption level in 2015 (option D - the same as; the same as).

2. Nominal consumption refers to the quantity of goods consumed without considering changes in the price level. Since Charles spent the same amount of money on mineral water in both 2015 and 2016, his nominal consumption in 2016 was also the same as his nominal consumption level in 2015 (option D - the same as; the same as).

3. The Wendy's coupon offering "Buy One Baconator, Get One Baconator For $1" is an example of price discrimination. Price discrimination occurs when a seller charges different prices for the same product or service to different customers. In this case, Wendy's is offering a discounted price for the second Baconator, incentivizing customers to buy more. This type of price discrimination is known as third-degree price discrimination (option C - taker; third-degree).

4. According to the BLS household survey, Frank would be classified as unemployed. Despite having a job at a fabricated metal factory, he has not worked in the last five weeks due to a strike at the plant. Since he is actively seeking employment and not currently working, he falls under the definition of unemployed (option A - unemployed).

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