Conflicts of interest is a type of ________ problem that occurs when a person or institution has multiple objectives that are in conflict with each other
A) moral hazard
B) adverse selection
C) risk sharing
D) spinning
A
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In a marketplace, prices:
A) act as a measure of value, and do not affect the allocation of resources. B) act as incentives that allow for the efficient allocation of resources. C) are determined by politicians and regulators. D) are determined through auctions.
Within the Keynesian aggregate expenditures model, if the economy is below equilibrium, then there will be:
a. an increase the demand for goods and services. b. an increase in real GDP. c. lower interest rates, which will stimulate aggregate demand and keep the economy at full employment. d. a lower price level, which will quickly guide the economy to full-employment equilibrium.
Which is the most accurate statement about the Personal Responsibility and Work Opportunity Act of 1996?
A. The decline in the welfare rolls since the mid-to-late 1990s was due entirely to this law. B. This law was directly responsible for throwing millions of the poor out on the street. C. The law validated President Clinton's promise "to put an end to welfare as we know it." D. The law had very little success in removing people from the welfare rolls.
Adding globalization and large trade deficits to the standard AS/AD model creates:
A. increased domestic production and consumption. B. increased domestic production and reduced consumption. C. reduced domestic production and consumption. D. decreased domestic production and increased consumption.