Fast Stop, a gasoline and grocery quick mart, charges $3 for one hot dog and $5 for two hot dogs. This is an example of ________.
A) an all-or-nothing offer
B) third-degree price discrimination
C) second-degree price discrimination
D) two-part pricing
C) second-degree price discrimination
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The most effective and frequently used tool the Fed has to increase or decrease the economy's money supply is
a. open market operations b. changes in the legal reserve requirement c. changes in the discount rate d. changes in the federal funds rate e. moral suasion
One of the reasons why the Phillips curve is no longer viewed as a "menu" of possible choices available to policy makers is that
a. in the 1970s and 1980s there was no inflation at all. b. analysis indicates there was no such "menu" in the 1960s. c. in the 1970s and 1980s much inflation came from the supply side. d. economic theory is unable to explain the curve and, therefore, it has been rejected.