________is the problem of separating good from bad drivers
a. Moral hazard
b. Adverse selection
c. Decision making
d. None of the above
b
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A permanent increase in demand ______ economic profit in the short run and some firms will ____ in the long run
A. does not change; exit the market B. increases; enter the market C. increases; raise their price D. does not change; advertise their good
In the early 1990s, M2 growth underwent a dramatic ________, which some researchers believe ________ be explained by traditional money demand functions
A) surge; cannot B) surge; can C) slowdown; cannot D) slowdown; can
The optimal taxation system is a tax system that
A. minimizes the overall excess burden. B. maximizes tax revenues. C. is highly progressive. D. minimizes the total tax burden.
During the 19th century, the great abundance of land compared to the availability of labor
A. attracted millions of immigrants. B. encouraged early marriage and large families. C. encouraged rapid technological development. D. All of the choices are true.