Which of the following is NOT a government response to asymmetric information?
A) liability laws
B) social regulation
C) manufacturer's warranties
D) government licensing
C
You might also like to view...
Labor productivity can be increased if
A) the government mandates it. B) the standard of living declines. C) people spend less time developing skills before entering the workforce. D) there is an increase in capital goods.
Which of the following statements is true?
A) Rational economic agents maximize more than just monetary income. B) It is not necessary to consider the risks of a particular alternative while making an optimal decision. C) An individual does not require information to make optimal decisions. D) The principle of optimization is only accurate when it comes to making monetary decisions.
People who disagree vehemently about whether or not it is efficient to clear-cut forests or strip-mine for coal are basically disagreeing about
A) the importance of material wealth. B) the importance of the economy. C) the proper relationship of human beings to the natural world. D) who should have which rights.
Use the following statements to answer this question. I. To maximize profit, a firm will advertise more when the advertising elasticity is larger. II. To maximize profit, a firm will advertise more when the price elasticity of demand is smaller
A) Both I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) Both I and II are false.