From 1800 to 1940, the price level in the United States
A. trended neither upward nor downward.
B. declined slowly.
C. fluctuated wildly.
D. increased slowly.
Answer: A
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Organizing production, obtaining financing, assigning workers to jobs, and dealing with suppliers are among the ways that ________ increases average labor productivity.
A. human capital B. an entrepreneur C. physical capital D. a manager
In the long run, the real interest rate is determined by
A) the nominal interest rate. B) saving supply and investment demand. C) the multiplier effect. D) the expected inflation rate. E) Fed actions.
An amusement park charges an entrance fee of $75 per person plus $2.50 per ride. This is an example of
A) first-degree price discrimination. B) a two-part tariff. C) second-degree price discrimination. D) bundling. E) tying.
(pg 168) Charging prices closer to what consumers are willing to pay for a good
a. Reduces consumers surplus b. Increases producer surplus c. Both a and b d. None of the above