Which of the following describes two-part tariff pricing?
A) A firm charges two different prices for the same good.
B) An importer has to pay a tax at the nation's borders, and a sales tax when the good is sold.
C) A buyer must pay a down payment and monthly payments to buy big-ticket items such as a car, a plasma television, or a suite of furniture.
D) A buyer pays an initial price for entrance to the market and an additional fee for each unit of the product purchased.
D
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Why should imports be excluded from gross domestic product? How is a purchase of an import recorded in the components of GDP?
What will be an ideal response?
Which of the following statements is correct?
A. An increase in the price of C will decrease the demand for complementary product D. B. A decrease in income will decrease the demand for an inferior good. C. An increase in income will reduce the demand for a normal good. D. A decline in the price of X will increase the demand for substitute product Y.