When those on the informed side of a market self-select, the problem of __________ occurs
a. natural selection
b. external benefits
c. adverse selection
d. the winner's curse
e. the common pool
C
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. If she does not sell a cake the day she makes it, she sells it as day-old cake for $10. What is her expected marginal cost of holding the 20th cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $0.40
B) $10.00
C) $0.20
D) $2.00
How does the cross elasticity of demand differ from the price elasticity of demand? How are they related?
What will be an ideal response?
Money is:
A. the set of all assets that are regularly used to directly purchase goods and services. B. represented only by the amount of dollars and coins in our economy. C. controlled by the supply and demand of goods and services on which our money is spent. D. anything that we use to buy goods and services as long as it is not a good itself.