Imports ________ society's total surplus because of the ________ in price and ________ in consumption
A) increase; rise; increase
B) increase; rise; decrease
C) decrease; fall; increase
D) decrease; fall; decrease
E) increase; fall; increase
E
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Financial intermediation is necessary because of
A) asymmetric information. B) adverse selection problems. C) the risk of moral hazard. D) all of the above.
The term "born with a silver spoon in his mouth" mistakenly implies
A) only monetary endowments allow one to trade with others. B) only the wealthy are strong negotiators in trade. C) endowments are physical. D) endowments differ.
An economy eliminates a recessionary gap by reducing wages and prices
a. True b. False Indicate whether the statement is true or false
The unionization rate of private sector workers is about:
A. 6.5%. B. 12.5%. C. 35.5%. D. 37.7%.