Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets
b. loggers clear-cut a tract of land rather than when paying per tree felled
c. Drivers of heavier, safer cares are less likely to run stop signs
d. workers on commission work harder than those paid an hourly wage
c
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All dose-response functions are
a. linear relationships d. horizontal relationships b. nonlinear relationships e. none of the above c. vertical relationship
Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If Max is currently at point d,
A) his MRS is larger than the trade-off offered by the market. B) he is willing to give up more chicken than he has to, given market prices. C) he is not maximizing his utility. D) All of the above.
Country A's overall balance in the balance of payments equals:
a. Current account minus the financial account. b. Reserves account minus the current account. c. Reserves account plus the capital account plus the current account. d. Current account plus capital account plus the financial account minus the reserves account. e. Reserves account plus the financial account.
The most competitive industry is one that has
A. price leadership. B. open collusion. C. covert collusion. D. a cartel.