Which of the following is not a final good or service?
A. A gallon of milk for your breakfast cereal
B. A notebook for your college courses
C. The cheese on the pizza you bought from Domino's
D. The salsa you use while watching football on the weekend.
C. The cheese on the pizza you bought from Domino's q
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The prisoners' dilemma is used to illustrate the basic idea that
a. oligopolistic firms would be better off if they collude, but each has an incentive to cheat on the collusive agreement. b. oligopolistic firms are always worse off when they collude. c. oligopolistic firms never have an incentive to cheat on collusive agreements, unlike prisoners. d. students who cheat on economics exams end up in jail.
The constitution of the European Union was approved in 2008
a. True b. False
Based on the table showing income inequality in the United States, from 1950 to 1980, the distribution of income in the United States ______.
a. changed erratically
b. remained more or less stable
c. dramatically shifted to favor lower earners
d. dramatically shifted to favor higher earners
When people use recent information to gradually adjust their forecasts of inflation, they are said to have:
A. static expectations. B. adaptive expectations. C. rational expectations. D. spiraling expectations.