Studies show that during the March Madness college basketball tournament, the productivity of the average company in the US falls considerably. This is an example of
a. the Condorcet Paradox.
b. signaling.
c. moral hazard.
d. screening.
c
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Because elephants roam freely in many countries in Africa, each individual African elephant poacher has
a. a strong incentive to kill as many elephants as he can find. b. a strong incentive to protect the elephants. c. the ability to save the elephants. d. None of the above is correct.
Which of the following is designated by point B’ in Exhibit 4?
a. Calvin has a higher opportunity cost than Wendy in cloth production.
b. By specializing in food, Wendy can produce 10 pounds of food per day.
c. Together Calvin and Wendy can produce 13 pounds of food per day.
d. Wendy has a higher opportunity cost than Calvin in food production.
Suppose that a market for a product is in equilibrium at a price of $5 per unit. At any price above $5 per unit:
A. there will be an excess demand for the product. B. there will be an excess supply of the product. C. the quantity supplied of the product will be less than the quantity demanded of that product. D. there will be a shortage of that product.
A multinational agency that specializes solely in making loans to promote long-term development and growth in developing countries is the
A. International World Fund. B. Federal Reserve System. C. International Monetary Fund. D. World Bank.