Refer to the figure above. This country's imports equal
A) CE units of X.
B) GH units of Y.
C) CD units of X.
D) DE units of Y.
B
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Regardless of whether or not screening or signaling occurs in markets with adverse selection, the equilibrium will always be less efficient than an equilibrium in the same competitive market if there were no asymmetric information.
Answer the following statement true (T) or false (F)
Economists assume that rational people
A) never use all available information as they act to achieve their goals. B) respond to economic incentives. C) undertake activities that benefit others and hurt themselves. D) only weigh the benefits and costs of the most desirable alternative actions.
The national debt
A) decreases with a budget deficit. B) increases with increases in government spending. C) increases with open market purchases by the Federal Reserve. D) increases with a budget deficit.
Which one of the following resources is not underemployed?
A. The use of Manhattan Island in New York City for growing corn. B. The use of farmland in the Iowa and Illinois corn belt for buildings to do stock market research. C. An automobile factory that is shut down for two months to be retooled for a model change. D. Limiting all men to the fields of school teaching and social work.