In communities where more people carry property insurance you would expect people to be:
A. less careful about securing their possessions.
B. more careful about securing their possessions.
C. less likely to engage in behaviors that would be classified as moral hazard.
D. paying less for property insurance relative to communities where fewer people carry property insurance.
Answer: A
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Refer to Table 2.4. The GDP deflator for 2012 is
A) 60.9. B) 94.3. C) 106.1. D) 157.4.
In the IS model, assuming that the real interest rate does not change, an increase in autonomous net exports causes total investment, planned plus unplanned, to ________
A) fall, then rise back to its initial level B) fall, then rise above its initial level C) rise, then fall back to its initial level D) all of the above E) none of the above
Suppose the U.S. government has an annual budget of about $3.03 trillion. Does the U.S. government face the problem of scarcity?
a. No, a government with $3.03 trillion faces no real constraints. b. No, scarcity does not apply to governments. c. Yes, resources are limited even for the U.S. government. d. Yes, although the U.S. government can easily obtain more resources. e. Uncertain-economic theory has no answer to this question.
Which of the following is not an effect of an agricultural price support?
A) a surplus B) fewer exchanges C) higher prices paid by consumers D) government purchase and storage of surplus E) higher-quality products