Quality information for goods that are sold online:
A. is available from ratings given by other buyers.
B. is of no value because anyone can write anything on the Internet.
C. is unavailable because online sellers cannot be identified with certainty.
D. is ineffective at reducing asymmetric information problems.
Answer: A
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Purchasing additional equipment for more people to use or share in a production environment usually results in a
A) higher level of output. B) more expensive level of output. C) backlog of production. D) worker sharing his or her load.
Exhibit 14A-1 Aggregate demand and supply model
Given the shift of the aggregate demand curve from AD1 to AD2 in Exhibit 10A-1, the real GDP and price level (CPI) in long-run equilibrium will be:
A. $8 billion and 150. B. $12 billion and 200. C. $8 billion and 250. D. $8 billion and 200.
Which of the following is an example of a positive economic statement?
a. The minimum wage should be raised to help low-income workers b. The size of the Federal government should be reduced c. Education and income are highly correlated d. Nigeria should be given more foreign aid to foster economic development
The largest component of aggregate spending is government spending.
Answer the following statement true (T) or false (F)