Under asymmetric information,
a. you never get what you pay for
b. you sometimes get cheated
c. you always get cheated
d. at best you get what you pay for
e. sellers make profits in excess of competitive returns
d
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Which of the following statements is TRUE?
A) An increase in the price of gasoline will decrease the demand for gasoline. B) An increase in the price of gasoline will increase the quantity demanded of gasoline. C) An increase in the price of gasoline will increase the supply of gasoline. D) An increase in the price of gasoline will increase the quantity supplied of gasoline.
Due to a boom in the US, the average rate of return on investments is likely to rise causing the demand for US dollar to
a. Increase b. Decrease c. Not change d. None of the above
If personal income exceeds national income in a particular year, we can conclude that:
a) transfer payments exceeded the sum of Social Security contributions, corporate income taxes, and taxes on production and imports. b) the sum of Social Security contributions, corporate income taxes, and undistributed corporate profits exceeded transfer payments. c) consumption of fixed capital and taxes on production and imports exceeded personal taxes. d) transfer payments exceeded the sum of Social Security contributions, corporate income taxes, and undistributed corporate profits.
The deregulation of oil pricing will
A. increase our dependence on foreign oil. B. make the United States energy independent by the year 2000. C. decrease domestic production. D. decrease the extent of the nation’s dependence on foreign oil.