Recall the Application about federal quality standards in the market for kiwifruit to answer the following question(s).Recall the Application. The asymmetric information about kiwifruit was reduced by:
A. reducing the price of U.S. kiwifruit.
B. advertising.
C. a federal government marketing order.
D. All of these
Answer: C
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Categorization of activities in an organization along product or geographic lines is called:
a. globalization. b. decentralization. c. functionalization. d. divisionalization.
The school of thought that emphasizes the natural tendency for an economy to move toward equilibrium full employment without inflation is the
a. Keynesian school b. supply-side school c. noninterventionist school d. rational expectations school e. classical school
The size distribution of income in Figure 33.1 reveals that
A. The Gini coefficient for Alpha is larger than for Omega. B. Incomes are more equally distributed in Omega than in Alpha. C. People are wealthier in Alpha than in Omega. D. Incomes are more equally distributed in Alpha than in Omega.
For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies below the average revenue curve. B. lies above the demand curve. C. cannot be negative. D. All of these statements are true.