The Bureau of Labor Statistics divides the adult population into four categories: employed, underemployed, unemployed, and not in the labor force
a. True
b. False
Indicate whether the statement is true or false
False
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Joseph starts driving with much less care after buying car insurance. His behavior is an example of ________
A) moral hazard B) a domino effect C) adverse selection D) herd behavior
The city of Burlington is a very popular town for tourists to visit in the summer. We would expect the:
A. demand for normal goods to increase each summer. B. demand for normal goods to decrease each summer. C. prices of all normal goods to decrease each summer. D. demand curve for normal goods to shift to the left.
Which of the following can be considered as a cultural barrier to trade?
a. Prohibition on Zimbabwean aircrafts from flying over or landing in Canada b. Restriction on the export of luxury goods to the Democratic Peoples Republic of Korea from Canada c. An arms embargo imposed on China by the U.K. government d. Japanese law requiring a new retail firm to receive permission from other retailers in the area in order to open a business e. Restriction on the export of strategic goods to Ghana imposed by the government of U.K
A market consequence of a price floor is that the price consumers pay with the floor when compared to the price they paid without the floor,
a. falls so that there is an excess supply b. falls so that there is an excess demand c. increases so that there is an excess supply d. increases so that there is an excess demand e. falls so that the new equilibrium price is lower than the old