Which of the following is a means of eliminating the undesirable effects of adverse selection?
A. Writing a contract to guarantee the quality
B. Both a long-term relationship and writing a contract to guarantee the quality
C. A long-term relationship
D. None of the statements is correct.
Answer: B
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Suppose a player in a sequential game has 2 potential decision nodes, with 5 possible actions at each node. Then he has 25 possible pure strategies.
Answer the following statement true (T) or false (F)
Refer to Table 19-5. The value of each automobile in gross domestic product equals
A) $7,000. B) $15,000. C) $18,000. D) $25,000.
Based on Figure 6.1, suppose the government puts a tariff of $0.25 per bushel on soybean imports. How much will the tariff reduce imports?
A) Imports will decrease by 10 million bushels. B) Imports will decrease by 20 million bushels. C) Imports will decrease by 60 million bushels. D) Imports will not change after the tariff.
Which of the following is true?
a. Women are more highly unionized than men. b. A higher percent of white workers belong to unions than do African-American workers. c. The proportion of government employees belonging to a union is substantially higher than the proportion of private-sector workers who are union members. d. There is little difference in incidence of unionization among occupational categories.