An empirical study compared the price of eyeglasses in states that restricted advertising by optometrists with those that did not.The study revealed:
a. That the average price of eyeglasses in states where advertising was restricted was higher than the average price in states were advertising was not restricted
b. That the average price of eyeglasses in states where advertising was not restricted was higher than the average price in states where advertising was restricted
c. That the average price of eyeglasses did not differ between states where advertising was restricted and those in which advertising was not restricted
d. That the greater the level of advertising, the higher the average price of eyeglasses
a
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What will be an ideal response?
If the Japanese yen appreciates from $0.01 per yen to $0.02 per yen, the U.S. dollar depreciates from ________ per dollar to ________ per dollar
A) 100¥; 50¥ B) 10¥; 5¥ C) 5¥; 10¥ D) 50¥; 100¥
Plurality voting fails which of the criteria for an ideal voting system?
A. Transitivity B. No dictator C. Unanimity D. Independence of irrelevant alternatives
Joe's increase in wages has been identical to the increase in the price level. Joe thinks that he is better off and has increased his expenditures. Joe's behavior is consistent with
A. a vertical aggregate supply curve. B. Say's law. C. the classical model. D. money illusion.