A major function of incentive payments, guarantees, and signals is to enable markets to overcome the problem of
A) irrational forecasting.
B) efficient forecasting.
C) private information.
D) public information.
C
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Steve went to his favorite hamburger restaurant with $3, expecting to buy a $2 hamburger and a $1 soda. When he arrived, he discovered that hamburgers were on sale for $1 each, so Steve bought two hamburgers and a soda. Steve's response to the decrease in the price of hamburgers is best explained by
A. the price effect. B. a rightward shift in the demand curve for hamburgers. C. the substitution effect. D. the income effect.
The Second Bank of the United States rose to prominence under the leadership of:
a. Alexander Hamilton. b. Andrew Jackson. c. Henry Clay. d. Nicholas Biddle.
Based on the graphic showing the Lorenz Curve, in 2017 income distribution in the United States ______.
a. followed exactly along the line of perfect equality
b. was closer to the line of perfect equality than in 1980
c. was farther from the line of perfect equality than in 1980
d. was the same distance from the line pf perfect equality as in 1980
If the number of unemployed stays the same and the number of people in the labor force declines
A. The unemployment rate will rise. B. the unemployment rate will fall. C. the unemployment rate will stay the same. D. There is not enough information to determine what will happen to the unemployment rate.