Which of the following is a method for solving the problem of adverse selection?
A) truth in advertising laws
B) product liability laws
C) food labeling requirements
D) All of the above.
D
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The second phase of the Industrial Revolution
A. began in the early 1980s with the development of computers and the internet. B. started in Europe with the railroad industry. C. launched the "information age". D. started in America in the 1920s with the mass production of cars and electrical machinery.
The lag between the time the need for fiscal action is recognized and the time action is taken is referred to as the:
A. operational lag. B. recognition lag. C. administrative lag. D. crowding-out lag.
As a monopolist's profit maximizing quantity moves further away from the competitive industry's profit maximizing quantity,
A. the larger the deadweight loss in the market. B. the larger the profits of the monopoly. C. the smaller the deadweight loss in the market. D. the harder it is for the firm to stay as a monopoly.
Which of the following would contribute to a positive trade balance for a country?
A) having tourists visit the country B) importing textiles C) having foreign residents buy the government bonds of the country D) importing financial services