An example of mechanism design is
A. a non-profit charity that pays all employees a low fixed salary.
B. lower prices for airline ticket purchases made several months prior to the travel date.
C. welfare policy that has no limits on the amount of time a person can collect benefits.
D. health insurance with co-pays.
Answer: D
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What would the situation be at $1.25 = 1 euro?
a. The value of $1 would be 1.25 euros.
b. The quantity of euros demanded would be greater than the quantity supplied.
c. The foreign exchange market would be in equilibrium.
d. The quantity of euros supplied would be greater than the quantity demanded.
In a regression equation, the ________ captures the effects of factors that might influence the dependent variable but aren't used as explanatory variables.
A. intercept B. R-square C. slope parameter D. random error term
In the determination of production of goods or services with respect to GDP, transfer payments are included.
Answer the following statement true (T) or false (F)
The above figure shows the U.S. market for replacement cell phone batteries. With free international trade, the United States
A) exports 300,000 batteries. B) imports 500,000 batteries. C) imports 400,000 batteries. D) exports 700,000 batteries. E) imports 800,000 batteries.