The invisible hand is
A. Perfect competition.
B. The profit motive.
C. Government direction.
D. The mixed economy.
B. The profit motive.
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Adverse selection can arise in employment situations if information about worker quality is:
a. better for employees than employers. b. better for employers than employees. c. perfect. d. available at a low enough cost.
According to the graph shown, if this economy were to open to trade, the amount consumed domestically would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. increase by 35.
B. increase by 90.
C. decrease by 35.
D. decrease by 90.
Which of the following is an example of a negative externality?
A. planting flowers in your front yard B. talking loudly when others are trying to study economics C. people donating money to charity D. a smoker getting lung cancer
Import controls in Mexico ____________
a. will ease the pressure on Mexico's foreign exchange reserves if its exchange rate is fixed b. are illegal c. reduce tariffs d. are designed to float the exchange rate e. reduce quotas