With microfinance, the mechanism of ________ is a way to avoid the problem of imperfect information.
A. accepting savings deposits
B. peer lending
C. making only small loans
D. requiring no collateral
Answer: B
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Suppose that the income tax in the United States was such that all households had to pay 20 percent of their income to the government as taxes. This tax is an example of
A) a regressive tax. B) a proportional tax. C) a progressive tax. D) an efficient tax.
If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, the loss of consumer surplus due to this decision is
A) J + K. B) K - G. C) G + H. D) H + K.
Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. Which of the following bundles are in Max's opportunity set?
A) a, b, c B) b, d, e C) a, b, d D) None of the above
Consider the opportunity costs of producing goods X and Y that are listed for the four individuals above. Which person has a comparative advantage in producing good Y?
A) Pramilla B) Sam C) George D) Lucas