Most new settlement in the West came from homesteads
Indicate whether the statement is true or false
False
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Adverse selection exists when
A. the parties on one side of the market, who have information not known to others, self select in a way that benefits the parties on the other side of the market. B. the parties on one side of a market charge more for something than the parties on the other side of the market want to pay. C. one party to a transaction changes his or her behavior in a way that is hidden from and costly to the other party. D. the parties on one side of the market, who have information not known to others, self select in a way that adversely affects the parties on the other side of the market. E. none of the above
When considering setting the transfer price at the market price of a product similar to the intermediate good that is already available on the market
a. It is appropriate to ignore that the market price includes a margin above marginal cost b. It is OK if the product on the market includes costly features your downstream division does not use c. it is OK if the product on the market is inexpensive because its quality is lower than you use d. if it is similar enough, it calls into question whether there are gains from producing it in-house
One tax system is less efficient than another if it
a. places a lower tax burden on lower-income families than on higher-income families. b. places a higher tax burden on lower-income families than on higher-income families. c. raises the same amount of revenue at a higher cost to taxpayers. d. raises less revenue at a lower cost to taxpayers.
Mr. Peabody chooses to invest in companies that produce goods and services based on consumer preferences. Mr. Peabody is investing in companies that are attempting to be
A) allocatively efficient. B) productively efficient. C) guaranteed to make a profit. D) all of the above.