In a market system, self-interest motivates most people to
A. rely on government central planning.
B. provide products for other people.
C. remain self-sufficient.
D. avoid paying insurance premiums.
Answer: B
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Which of the following is not correct?
a. An example of adverse selection is man who tries to sell his used car without disclosing that it needs a new transmission. b. The "invisible hand" of a free market will always fix the problems of adverse selection and moral hazard. c. An employer may try to prevent a moral hazard problem by paying her workers an efficiency wage. d. One interpretation of gift giving is that it reflects asymmetric information and signaling.
An increase in wealth will usually cause an individual to ________ his supply of labor.
A. not change B. increase C. decrease D. reduce to zero
Refer to the given data. The amount of output being forgone by the economy is:
Answer the question on the basis of the following information for a specific year in a
hypothetical economy for which Okun's law is applicable:
A. $12 billion.
B. $15 billion.
C. $18 billion.
D. $24 billion.
How can government best promote domestic industry?
What will be an ideal response?