You want to add a new room on your house, but you are not familiar with the local building contractors and are not sure who to consider for the job
If you ask your friends for referrals, you are using their past experience as a way to evaluate the ________ of the builders. A) efficiency wages
B) moral hazard
C) asymmetric information
D) reputation
D
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After the imposition of the quota, the amount of revenue collected by the government is ________. 
A. $75,000 B. $0 C. $150,000 D. $50,000
When a producer has a comparative advantage in producing a good, it means the producer:
A. has the ability to produce the good at a lower opportunity cost than others. B. is efficient in production. C. has no reason to trade with others. D. can produce more of that good than others with the same number of workers.
Which is of the following statements is correct?
A. If demand increases, then price will decrease B. If demand decreases, then price will decrease C. If price increases, then demand will decrease D. If price decreases, then demand will decrease
The Federal reserves Open Market Committee currently meets:
A. monthly. B. bi-weekly. C. once every quarter, unless a crisis warrants more frequent meetings. D. eight times a year.