A situation where a consumer says he does not know his preference ordering for bundles X and Y would violate the property of:
A. more is better.
B. complementarity.
C. substitutability.
D. completeness.
Answer: D
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The requirement that all drivers must carry auto insurance reduces
A) moral hazard. B) the effectiveness of signaling. C) adverse selection. D) the chance of auto accidents.
Which type of unemployment is likely to decrease the most during an economy's boom?
a. Frictional unemployment b. Seasonal unemployment c. Structural unemployment d. Cyclical unemployment e. Underemployment
As entry of new firms occurs in an existing monopolistically competitive industry, the
a. market demand curve will shift to the right b. market demand curve will shift to the left c. demand curves of existing firms shift to the right d. demand curves of existing firms will become more price elastic e. market supply curve will shift to the left
Ceteris paribus, _______ can change without shifting the demand curve for jackets.
a) The price of jackets b) Taste c) Income d) The price of sweaters