Which of the following help to correct for the market failure of imperfect information?
A. nutrition labeling
B. homeowner warranties
C. professional licensing
D. All of the above are correct.
Answer: D
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A cross-sectional data set consists of observations on a variable or several variables over time.
Answer the following statement true (T) or false (F)
If helen can paint one room in the time it takes her to bake 40 cakes and josh can paint one room in the time it takes him to bake 60 cakes, josh's opportunity cost of baking one cake is
a. ?painting one room. b. ?painting 1/40 of a room. c. ?painting 1/60 of a room. d. ?painting 2/3 of a room. e. ?painting 3/2 of a room.
A perfectly competitive firm's ________ point is the lowest point on its AVC curve.
A. loss-maximizing B. shut down C. break-even D. profit-maximizing
Since the legal age to vote in the United States is 18, the legal drinking age in the United States should be lowered to 18. This statement is best described as
A. a marginal statement. B. a positive statement. C. a normative statement. D. an implication of an efficient market.