Which of the following groups is engaging in rent seeking?
a. Karst Salvage, a non-profit that accepts donations to educate people about the importance of caves
b. Safer Rides, a group that lobbies elected officials to get safety features added to cars
c. Daring Drones, a group that makes donations to officials hoping to get permits to fly in restricted areas
d. Long-time Logging, which donates money to campaigns of politicians who promise to help preserve forests
c. Daring Drones, a group that makes donations to officials hoping to get permits to fly in restricted areas
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When you make a purchase at a retail store by giving your bank an instruction to transfer funds directly from your bank account to the store's bank account, you have most likely made the purchase using
A) a loan. B) a debit card. C) credit. D) cash.
In the United States, consumers usually pay less than the true cost of medical treatment because of
A) adverse selection. B) rising insurance premiums. C) rising insurance deductibles. D) third-party payers.
Which of the following is not an explanation for why better educated workers earn more, on average, than less educated workers?
a. The higher wages may be a compensating differential for the cost of acquiring the education. b. Workers with a college degree signal their higher abilities to potential employers. c. Skilled labor is increasingly becoming a substitute for unskilled labor, which raises the earnings of workers with more education. d. Better educated workers are more productive, on average.
Which of the following is a source of wage stickiness?
1. fixed wage contracts 2. minimum wage laws 3. workers and firms want to avoid complexity of negotiating contracts frequently A. I and III only B. I and II only C. I only D. I, II, and III