Which of the following is a government response to asymmetric information?
A. external product certification
B. manufacturer's warranties
C. product guarantees
D. government licensing
Answer: D
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The Great Depression lead many to question the economy’s ability to self-correct.
Answer the following statement true (T) or false (F)
Refer to the graph shown.
Which of the graphs correctly depict the short-run Phillips curve with globalization?
A. A B. B C. C D. D
In the case where a firm gains an advantage from producing more than one product, it is experiencing
A) economies of scale. B) market economies. C) economies of scope. D) increasing returns to scale.
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this were depicting an autarky, the amount being sold domestically is:
A. 115. B. 90. C. 60. D. 160.