Which of the following help to correct for the market failure of imperfect information?
A. used car warranties
B. medical licensing
C. truth-in-advertising regulations
D. All of the above are correct.
Answer: D
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In what three ways do people use their time?
a. market work, selling labor in the labor market, and leisure b. producing their own goods and services, nonmarket work, and market work c. nonwork, work, and leisure d. market work, nonmarket work, and leisure e. market work, nonwork, and leisure
Public saving equals:
a. TR - G - T b. Y - C - T + TR c. Y + C + T + TR d. T - G - TR
Which of the following is not shown on a product possibilities curve?
(A) The opportunity cost of a decision to produce more of one good or service. (B) All of the goods and services an economy has the ability to produce. (C) The efficiency of an economy. (D) Whether an economy has grown or shrunk.
Which form of intellectual property protects a drug manufacturer against a rival stealing its formula?
A. Trademark B. Copymark C. Copyright D. Patent