The tendency of bankers to take unwarranted risks in making loans because deposits were insured is an example of _____
a. anchoring bias
b. self-serving bias
c. moral hazard
d. hazard pay
e. banker's lobbying
c
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Which of the following is a cause of higher birth rates in developing countries?
a. Children are viewed as a source of farm labor b. Children are viewed as economic and social security as the parents age c. Higher child mortality rates engender higher birth rates d. All the answers are correct e. None of the answers is correct
The aggregate supply and aggregate demand model describes the interaction of which macroeconomic variables?
A. Output and the price level B. Employment and immigration C. Prices and immigration D. Output and number of sellers
Westland and Oceania have just started to trade with each other. Westland exports goods produced with skilled labor and imports goods made with unskilled labor from Oceania. Over time, we would expect that in Oceania the wages of unskilled workers will
a. rise, and the wages of skilled labor will fall. b. fall, and the wages of skilled labor will rise. c. rise, and the wages of skilled labor will rise. d. fall, and the wages of skilled labor will fall.
Refer to the table shown. Using the four-firm concentration ratio, the tire industry is best categorized as:IndustryNumber of sellers% of shipments accounted for by the 4 largest companiesTires1595Upholstered furniture2,00015
A. monopolistically competitive. B. oligopolistic. C. a pure monopoly. D. perfectly competitive.