Which of the following goods is given in the textbook as an example of a good whose price is subject to volume discounts?
A. Electricity
B. Pizza
C. Gasoline
D. Yogurt
B. Pizza
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Starting from a long-run equilibrium, an increase in government expenditures increases output in the short run but not in the long run.
Answer the following statement true (T) or false (F)
The economy of South Korea would best be classified as:
A. pure capitalism. B. a command system. C. a market system. D. socialism.
An alternative to ________ is to rely on natural experiments to mimic the controlled experiment.
A. manipulated experiments B. mirror experiments C. predetermined experiments D. random experiments
To ensure that a nominal payment represents a constant level of purchasing power over time, one should:
A. add the price index to it. B. divide it by the price index. C. subtract the price index from it. D. increase it by a percentage equal to the rate of inflation for that year.