Which of the following statements is false?
A. Greater distance reduces the likelihood of migration
B. Greater stocks of human capital result in greater personal productivity and earnings
C. The majority of international migrants move to countries relatively close to their home countries
D. Implicit costs of migrating are not affected by distance
D. Implicit costs of migrating are not affected by distance
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Automobile insurance companies have a problem with people who buy insurance and then drive recklessly or take less care to avoid losses after being insured. In other words, the automobile insurance market is subject to
A) moral hazard. B) adverse selection. C) asymmetric information. D) market signaling.
Once monetary policy is dedicated to controlling the level of nominal GDP, then fiscal policy can be used to
A) choose the overall level of interest rates, with a high budget surplus implying a high level of interest rates. B) choose the overall level of interest rates, with a high budget deficit implying a high level of interest rates. C) control the level of inflation, with a high budget surplus implying a faster rate of inflation. D) control the level of inflation, with a high budget deficit implying a faster rate of inflation.
When considering different tax levels, the revenue-maximizing point will be reached more:
A. slowly when demand is more elastic. B. quickly when demand is more elastic. C. quickly when demand is less elastic. D. quickly if demand is unit elastic.
An elected official will:
a. tend to favor policies that wield benefits in the short run and impose costs in the long run b. tend to favor policies that impose costs in the short run and yield benefits in the long run c. both of the above d. neither of the above