If the demand for online banking decreases, we would expect to see the
A. supply of workers that produce online-banking services to decrease.
B. demand for workers that produce online-banking services to increase.
C. supply of workers that produce online-banking services to increase.
D. demand for workers that produce online-banking services to decrease.
Answer: D
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Possession of information by one party in a financial transaction but not by the other party is
A) symmetric information. B) asymmetric information. C) informational hazard. D) financial intermediation.
A person's consumption possibilities is defined by the budget line because
A) it marks the boundary between what is affordable and unaffordable. B) it represents the individual's preference for different combinations of goods. C) it marks the boundary between what can be produced and what is unattainable given the current state of technology and resources. D) all consumers must consume on their budget line.
"People who have dental insurance don't floss often enough." This is an example of
A) asymmetric information. B) bad parenting. C) moral hazard. D) risk adverse behavior
According to economist Milton Friedman, a. the short-term validity of the Phillips curve is questionable
b. there might be a short-term trade-off between unemployment and inflation but not a permanent trade-off. c. trade-off happens between unemployment and inflation happens in the long run but not in the short run. d. the long-run trade-off between unemployment and inflation comes from unanticipated inflation.