If an employment situation is characterized by adverse selection,
a. there are too many applicants for each job
b. there are too few applicants for each job
c. there are exactly the right number of applicants for each job
d. there is an excess supply of overqualified applicants for each job
e. there is an excess supply of underqualified applicants for each job
E
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Which of the following factors is the most significant in determining the pattern of international trade?
a. absolute advantage b. diplomatic expertise c. comparative advantage d. overpowering military strength e. a country's size relative to another country's
The CPI measures the average level of prices of all final goods and services produced in the economy
a. True b. False Indicate whether the statement is true or false
Which would most likely shift the aggregate supply curve? A change in:
A. government spending. B. excess capacity in business. C. prices of imported resources. D. consumer expectations.
In the short run, product differentiation enables firms in monopolistically competitive markets to:
A. produce a good which is standardized. B. produce a good for which there are exact substitutes. C. price the good at marginal cost. D. earn a positive economic profit.