Some of our security is managed at the local level. Local governments, for example, provide
a. corporate security guards
b. police protection to safeguard our communities
c. airport accommodations for the air force in times of emergency
d. the National Guard
e. city or town mall security forces
B
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Nations such as Egypt and Turkey may have wide differences between GNP and GDP because both the countries
A) have a high level of imports and exports relative to GNP. B) have a large portion of their GNP produced by multinational corporations. C) have a large number of citizens working abroad. D) purchase large amounts of military wares from other countries.
In a principal-agent problem, if the contract implies that the more risk-averse agent will bear less risk, we can say that this contract exhibits
A) efficiency in risk-bearing. B) risk sharing is not optimal because the less risk-averse (or risk-neutral) agent should bear none of the risk. C) risk sharing is not optimal because all risk should be transferred to the most risk-averse agent. D) risk sharing is not optimal because risk-neutral agents should face no risk.
The labor supply curve:
A. is made up of firms who want to hire workers at each given wage. B. is made up of workers who want to work for firms at each given wage. C. shows number of firms who are willing and able to hire workers at each given wage. D. shows that the number of firms who want to hire workers decreases as the wage increases.
How might Roger’s Plastics Company experience an adverse selection of patients for its health insurance plan?
a. by requiring all employees to be covered under the program b. by offering voluntary insurance, which ends up getting used only by people who know they are sick c. by requiring all participants to undergo extensive screening for conditions that make them ineligible d. by offering free insurance to all employees