One reason De Beers has lost some of its monopoly power is:
A. antitrust laws
B. competition from Canadian and Russian diamond mines.
C. pressure from consumers.
D. All of these statements are true.
D. All of these statements are true.
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Which of the following would a Keynesian economist be most likely to stress?
a. Supply creates its own demand. b. Businesses will not produce goods and services if they do not think people will buy them. c. You cannot spend your way out of a recession. d. When the unemployment rate is high, wage rates will fall. e. A dollar saved is a dollar earned; a high rate of saving is the key to prosperity.
Most voters will likely be concerned with
What will be an ideal response?
If a minimum wage is established, a monopsonist faces
A) an upward sloping supply of labor at all quantities of labor. B) a downward sloping supply of labor at all quantities of labor. C) a horizontal supply of labor at the minimum wage and the upward sloping portion of the labor supply curve above minimum wage. D) a horizontal supply of labor at the minimum wage and the downward sloping portion of the labor demand curve below minimum wage.
Which of the following statements is true?
A. Adverse selection is a problem that occurs after a transaction. B. Both adverse selection and moral hazard occur before a transaction. C. Moral hazard is a problem that occurs before a transaction. D. Adverse selection is a problem stemming from asymmetric information.