A motorist who chooses high-deductible versus low-deductible car insurance is signaling that he is:
A. a safe driver.
B. a reckless driver.
C. likely to be a low income earner.
D. likely to not pay.
A. a safe driver.
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The gap between consumption and income can never be particularly large
Indicate whether the statement is true or false
If marginal revenue exceeds marginal cost, profit maximizers should
a. reduce output until they are equal b. increase output until they are equal c. increase output until profits are zero d. decrease output unless profits are zero e. maintain current output
A form of economic organization that relies primarily on private ownership of productive assets, freedom of exchange, and market prices to allocate goods and resources is often called
a. national socialism. b. the welfare state. c. a corporate economy. d. capitalism.
Between a trough and a peak, the economy goes through a(n)
A. expansion. B. hyperinflation. C. bust. D. recession.