The main proponent of the liberal view of poverty is
A. Charles Murray.
B. William Julius Wilson.
C. Nicholas Lemann.
D. David Rogers.
B. William Julius Wilson.
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________ is the study of an economy as a whole
A) Game theory B) Microeconomics C) Behavioral economics D) Macroeconomics
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A) creates moral hazard but eliminates adverse selection. B) creates adverse selection but eliminates moral hazard. C) creates both moral hazard and adverse selection. D) eliminates both moral hazard and adverse selection.
A common resource is used efficiently if
A) the output is maximized. B) marginal social benefit equals marginal social cost. C) marginal private benefit equals marginal private cost. D) marginal social benefit is maximized.
What is least accurate about marketing and selling in the US after the Civil War?
a. Advertising on a national scale became a widely accepted practice. b. There was a large increase in firms with brand names. c. There was a decrease in product differentiation—goods became more alike. d. The quality of non-durable goods improved significantly.