An appreciation of the U.S. dollar occurs when
A) the international price of the dollar falls.
B) the international price of the dollar rises.
C) the supply of dollars in international markets increases.
D) the U.S. demand for foreign currencies increases.
B
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What distinguishes a new media from the old media?
Insurance companies try to mitigate the problem of adverse selection by:
A. asking potential customers a seemingly endless list of questions to gain as much information as they can about the person's risk characteristics. B. charging a higher premium to groups with similar ages or behaviors that correlate with risky behavior. C. charge a higher price to all individuals to cover the lack of information. D. All of these statements are true.
Which of the following is NOT an example of a transfer payment?
A. the salaries received by social workers employed by the federal government B. food stamps C. unemployment compensation D. social security payments
When firms are said to be price takers, it implies that if a firm raises its price,
a. buyers will go elsewhere. b. buyers will pay the higher price in the short run. c. competitors will also raise their prices. d. firms in the industry will exercise market power.