A way in which government can attempt to solve the problems caused by information asymmetry in the marketplace is:
A. statistical discrimination.
B. screening.
C. disclosure laws.
D. building a reputation
C. disclosure laws.
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Local governments wanting to keep their tax base from eroding away should choose _____
a. income taxes b. sales taxes c. property taxes d. excise taxes
If a firm has a market share that exceeds ________ percent, most courts will conclude that the firm is a monopoly and if the market share exceeds ________ percent, the courts are likely to conclude that the firm is coming "dangerously close" to being a monopoly.
A) 99; 50 B) 75; 50 C) 90; 75 D) 80; 60
At the end of the 18th century, approximately _______ percent of the American people earned a major portion of their income by farming
a. 25 b. 50 c. 70 d. 90
Which of the following provides an example of an externality? a. The air pollution generated when you drive your car
b. The view that passersby and neighbors enjoy when observing your rose garden. c. The free concerts neighbors hear when an accomplished musician practices at home. d. All of the above.