Screening is when someone takes action to:
A. reveal one's own private information.
B. find out the opportunity cost of acquiring more information.
C. reveal private information about someone else.
D. None of these statements is true.
C. reveal private information about someone else.
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Prof. Epstein's normative theory of law argues that the common law ought to
a. promote a more desirable distribution of income. b. impose punitive damages more often. c. seek economic efficiency. d. promote the Good Samaritan ethic.
Banking failures result when
(a) banks do not hold 100 percent of their customers' deposits in their vaults. (b) banks make loans. (c) bank withdrawals exceed their reserves. (d) all of the above occur.
The real wage rate is defined as the wage rate divided by
a. the interest rate. b. the money supply. c. nominal GDP. d. the price level.
Net export spending is expenditures on:
A. goods and services by federal, state, and local governments. B. goods and services sold abroad minus goods and services produced abroad. C. stocks, bonds, and other financial instruments. D. consumer durables, nondurables, and services.