Which of the following would be an example of a transaction later regretted because it was made with incomplete information?
A. Tim bought products from a seller that knew they were defective.
B. Larry moved to a new apartment but later decided it was too small for his needs.
C. Sue purchased a lottery ticket that did not win her any money.
D. All of these are good examples of incomplete information.
Answer: A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
The nationality of a company and a product is easily determined
a. True b. False Indicate whether the statement is true or false
Transfer payments to individuals are about _____ percent of total government spending.
Fill in the blank(s) with the appropriate word(s).
To compare the costs of a college education with its monetary benefits, economists use the concept of
A. actual costs and benefits. B. plausible deniability. C. present value. D. enumerated costs and benefits.