Economists usually have to make do with whatever data the world happens to give them
a. True
b. False
Indicate whether the statement is true or false
True
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Adverse selection is caused by
a. Hidden actions b. Hidden information c. Both of the above d. None of the above
Barter occurs when
a. two people share everything b. one product is exchanged directly for another product c. money is used to buy goods d. money is exchanged directly for other money e. goods are used to buy money
If it costs a firm $10 to produce a good and the same good sells for $7 abroad, then this firm is engaging in
A. price discrimination. B. dumping. C. price differentiation. D. profit maximization.
A decrease in dividend payments will
A. lead to a decrease in labor supply. B. lead to an increase in labor supply. C. have no effect on labor supply. D. either lead to an increase or decrease in labor supply depending on the relative magnitude of the income and substitution effects.