Education's benefit to society is an example of an externality.
Answer the following statement true (T) or false (F)
True
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The non-income determinants of consumption include all of the following EXCEPT
A) real wealth. B) the interest rate. C) stock of assets owned by household. D) innovation.
Adverse selection exists when
A. the parties on one side of the market, who have information not known to others, self select in a way that benefits the parties on the other side of the market. B. the parties on one side of a market charge more for something than the parties on the other side of the market want to pay. C. one party to a transaction changes his or her behavior in a way that is hidden from and costly to the other party. D. the parties on one side of the market, who have information not known to others, self select in a way that adversely affects the parties on the other side of the market. E. none of the above
By how much did the Doha round of negotiations increase the world economy per year?
a. $100 to $150 billion b. $150 to $200 billion c. $200 to $250 billion d. $165 to $385 billion
Suppose the average value of in-kind transfers increases by $2,000 from 2013 to 2014 . The poverty rate
a. is more likely to understate the true level of poverty. b. is more likely to overstate the true level of poverty. c. will increase by $2,000 divided by the poverty level. d. Both b and c are correct.