Grooming well for a big date is a
a. Screening mechanism
b. Signaling mechanism
c. Way to waste money
d. None of the above
b
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A large increase in the supply of HD-TV sets occurs simultaneously with a smaller decrease in its demand. As a result, the equilibrium price will ________ and the equilibrium quantity will ________.
A. decrease, increase B. increase, decrease C. decrease, decrease D. increase, increase
If the price of a good increases compared to the base year, then the price level also increases
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. Public choice economists feel that government activities are the result of individual behaviors. 2. Competition has been eliminated from the public sector. 3. The individual consumption–payment link is created by majority rule. 4. Most voters are extremely liberal or extremely conservative. 5. Ideally, voters in a democracy should know about the candidates and the issues.
The size of the underground economy is probably large when:
A. taxes are low. B. the cost of doing business legally is low. C. bribes are often necessary to cut through bureaucratic red tape. D. All of these statements are true.