Recall the Application about genetic testing and adverse selection to answer the following question(s).According to the Application, what is causing more and more consumers to get a complete genetic profile of themselves?
A. The cost of genetic testing is decreasing.
B. The government is subsidizing genetic testing through Medicare.
C. More employers are requiring genetic testing before workers are hired.
D. More people want to know which famous person they are related to.
Answer: A
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Which of the following statements about ACH transactions is false?
A) They reduce the likelihood of missed payments. B) They reduce transactions costs associated with check processing. C) They reduce the costs that lenders incur in notifying customers of missed payments. D) They typically involve digital cash.
Assume that this graph illustrates a perfectly competitive labor market.
Suppose a minimum wage law required the wage to be at least $20 per hour in this market. If that happened, then:
A. there would be excess demand for person-hours. B. there would be an excess supply of person-hours. C. there would be no change in the equilibrium number of person-hours. D. the demand for person-hours would shift to the right.
Arbitrage occurs when investors try to profit from situations where:
A. stock rates of return exceed bond rates of return. B. bond rates of return exceed stock rates of return. C. two identical assets have different rates of return. D. returns on financial assets exceed returns on real assets.
That part of disposable income not spent on consumption is:
a. saved. b. invested. c. wasted. d. borrowed.