_____ is an online venue where businesses and individuals can hedge their uncertainty about whether legislation that affects them will be enacted
a. The American Civics Exchange
b. Tradesports
c. The Iowa Electronic Markets
d. The Gallup and Roper surveys
A
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Consumers don't always have to pay the maximum price they are willing to pay
Indicate whether the statement is true or false
Refer to Figure 7-4. With insurance and a third-party payer system, the equilibrium quantity of medical services is
A) 200. B) 500. C) 700. D) >700.
The price of a bond with a maturity date one time period into the future is equal to its face value
a. multiplier by 1 - r. b. multiplied by 1 + r. c. divided by 1 + r. d. divided by 1 - r.
What happens when a product is path dependent?
a. The technology used to produce the product has a specific growth path. b. The product can sell for a higher price when it is new and there are no similar products consumers can buy than when it is older and consumers can choose to buy substitutes for the product. c. The cost of switching to a product with a better technology gives the product with the initial technology an advantage. d. The path that a product follows depends on the firm that uses the best technology to produce it.