One result of asymmetric information in the market for used cars is that buyers benefit at the expense of sellers
a. True
b. False
B
You might also like to view...
The quantity demanded of good X falls by 20% and, in response, your income goes down by 10% and, the income elasticity of demand would be:
a. 2 b. 4 c. .5 d. .20
The U.S. Justice Department, on the basis of the Herfindahl index, classifies the industries with the value:
a. below 500 as highly competitive; 500-1000 as moderately competitive; and above 1000 as highly concentrated. b. below 1000 as highly competitive; 1000-1500 as moderately competitive; and above 1500 as highly concentrated. c. below 500 as highly competitive; 500-1500 as moderately competitive; and above 1500 as highly concentrated. d. below 1000 as highly competitive; 1000-1800 as moderately competitive; and above 1800 as highly concentrated. e. below 1500 as highly competitive; 1500-2000 as moderately competitive; and above 2000 as highly concentrated.
If the rate of exchange for a pound of $4, the rate of exchange for the dollar is _____ pound.
Fill in the blank(s) with the appropriate word(s).
The CPI: a. includes fewer goods and services than the GDP deflator
b. generally rises substantially slower than the GDP deflator during inflationary conditions. c. ignores imported goods purchased by consumers. d. is the broadest generally reported measure of inflation.