Recall the Application about the link between happiness and GDP to answer the following question(s). Comparing changes in happiness to changes in per capita income over the last 30 years, economists at Dartmouth College and Warwick University have measured levels of happiness in the United States and United Kingdom based on income levels, ethnicity, age, and gender.According to the Application:
A. reported levels of happiness in the United States have increased over the past 30 years.
B. stable marriages account for no more happiness than marriages ending in divorce.
C. retired people report higher levels of happiness than people below the age of 40.
D. money does appear to buy happiness, ceteris paribus.
Answer: D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
A local restaurant offers "early bird" price discounts for dinners ordered from 4:30 to 6:30 PM. This is an example of
A) peak-load pricing. B) second-degree price discrimination. C) a two-part tariff. D) tying. E) none of the above
A publisher is deciding whether or not to invest in a new printer. The printer would cost $900, and would increase the cash flows in year 1 by $500 and in year 3 by $800 . Cash flows do not change in year 2 . If the interest rate is 12%, what is the present value of the cash flows from the investment?
a. $155.59 b. $1015.85 c. $1076.56 d. $346.78
Suppose your parents are thinking of buying you a brand new car as a graduation present. Economists would argue that it would be better if:
A. They gave you a cash gift equal to the value of the car regardless of how much you need a car right now B. They ask you for what kind of car you want first and then buy it for you C. They gave you a cash gift equal to the value of the car long as you really don't have much use for a car right now D. You sell the car to someone else right away in exchange for the cash