If the demand for labor is unchanged, population growth will increase the supply of labor and increase the equilibrium wage
Indicate whether the statement is true or false
FALSE
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Jackson buys an automobile insurance policy and then decides to drive recklessly because he knows he is insured in case he has an accident. This describes the problem of
A) adverse selection. B) asymmetric information. C) moral hazard. D) risk pooling.
Economists who believe that real GDP may grow slowly because of insufficient demand for investment spending cite three main reasons for the low demand for loanable funds. Which of the following is not one of those reasons?
A) a reduced demand for housing due to slowing population growth B) the continued decrease in the value of the dollar relative to the currencies of major U.S. trading partners C) a smaller capital requirement for modern information technology firms D) the falling price of capital relative to other goods
According to monetarist theory, responsibility for the Great Depression lays with ________
A) the Federal Reserve System B) the liberal rulings of the Supreme Court C) the President and Congress of the United States D) unfair trade practices
Group price discrimination results in social welfare that ________ under a single-price monopoly
A) is greater than B) is lower than C) is the same as D) might be greater or might be lower than