How many regional district banks are in the Federal Reserve System?
a. All banks are part of the system.
b. 1
c. 12
d. 6
c. 12
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Illegal immigrants make up about what percent of all construction workers?
A. 17% B. 5% C. 32% D. 53%
Answer the following statement(s) true (T) or false (F)
1. In the principal-agent problem, assigning full liability to the agent gives no incentive for the principal to avoid damages. 2. Transaction costs arise when property rights are nonexistent. 3. If all parties can enter into negotiations, social optimum is achieved with or without a Pigou tax. 4. A free-rider problem occurs when people can share in the benefits of an activity without being forced to contribute to its costs. 5. Court decision involving torts are irrelevant to social welfare.
Many firms use technology to gather information on the preferences of consumers and their responses to changes in prices. This information is then used to adjust prices of the firms' goods and services. This practice is called
A) price discovery. B) yield management. C) empirical research. D) econometrics.
U.S. imports of sugar are limited by an import quota that, according to a study updated in 2013, imposed a total cost on American consumers close to $________, or an average cost of ________ per year for every job saved in the U.S sugar industry
A) $3 billion; $10 B) $105 million; $3 C) $2 billion; $110 D) $3 billion; $1,000,000 E) $370 million; $20