Moral hazard would lead to
a. Only risky drivers buying insurance
b. More risky drivers buying more insurance
c. Drivers taking on a lot more risk after buying insurance
d. Drivers becoming a lot more careful after buying insurance
c
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If the price of a good increased,
a. It would also increase the quantity exchanged if it was caused by an increase in demand. b. It would also decrease the quantity exchanged if it was caused by an increase in supply. c. We would not know how quantity would change if we didn't know whether it was due a change in demand or a change in supply. d. All of the above would be true.
How does an expected change in car prices affect consumption?
What will be an ideal response?
Refer to the scenario above. If Joseph prefers fairness to money, ________
A) he will not accept any offer made by Phillip B) he will always accept any offer made to him C) he will accept the offer if offered an equal share of the money D) Phillip will offer the minimum amount of money to Joseph
Identify which of the following motivated European expansion in America
(a) International trade and finance opportunities (b) Precious metals such as gold and silver (c) The hope of finding a northwest passage to the Orient (d) All of the above