How does the textbook distinguish between coercion and persuasion? Coercion induces cooperation by
A) making only a majority better off, persuasion by making everyone better off.
B) making nearly everyone better off, persuasion by making only a few people better off.
C) threatening to reduce people's options, persuasion by promising to increase their options.
D) using force, persuasion by using rational argument.
C
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If nominal GDP exceeds real GDP for a specific year, then the GDP deflator must be
A) greater than 100. B) less than 100. C) equal to 100. D) less than 0.
Suppose an excise tax of $0.75 is imposed on every pack of cigarettes sold and sellers are responsible for paying this tax. How would the imposition of the tax be illustrated in a graph?
A) The supply curve for cigarettes would shift to the left by more than $0.75. B) The supply curve for cigarettes would shift to the right by $0.75. C) The supply curve for cigarettes would shift to the left by $0.75. D) The supply curve for cigarettes would shift to the left by less than $0.75.