A natural experiment occurs when an endogenous event changes the environment in which individuals, families, firms, or cities operate.
Answer the following statement true (T) or false (F)
False
Rationale: FEEDBACK: A natural experiment occurs when an exogenous event changes the environment in which individuals, families, firms, or cities operate.
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If the price of a Domino's pizza decreases while the price of a Pizza Hut pizza is unchanged, then probably the demand for Pizza Hut pizza:
A. increases as some people switch from Pizza Hut to Domino's. B. decreases as some people switch from Pizza Hut to Domino's. C. remains unchanged. D. will depend on what happens to the supply of Pizza Hut pizza.
When the price of penicillin tablets increases by $5 per dozen, the drug company's revenue increases by $6 million. Its elasticity of demand (in absolute terms) must be
a. zero. b. greater than one. c. less than one. d. infinitely large.
The shoeleather cost of inflation refers to
a. the redistributional effects of unexpected inflation. b. the time spent searching for low prices when inflation rises. c. the waste of resources used to maintain lower money holdings. d. the increased cost to the government of printing more money.
Using Table 6.1, were there to have been deflation during this time period, you would have seen 
A. a stationary CPI. B. a more rapid rate of increase in the CPI. C. a slower rate of increase in the CPI. D. a decrease in the CPI.