Filling gaps in your information by generalizing based on observable characteristics is called:
A. statistical discrimination.
B. signaling.
C. building a reputation.
D. proofing.
A. statistical discrimination.
You might also like to view...
If the Fed injects reserves into the banking system and they are held as excess reserves, then the monetary base ________ and the money supply ________
A) remains unchanged; remains unchanged B) remains unchanged; increases C) increases; increases D) increases; remains unchanged
Fixed costs exist only in:
A. labor-intensive markets. B. the long run. C. the short run. D. capital-intensive markets.
An individual with a new idea for a product, such as someone who invents a new toy, will often take their idea to large manufacturers who have the wherewithal to produce and market their ideas. This barrier to entry is called _______________________.
Fill in the blank(s) with the appropriate word(s).
A monopolistically competitive firm chooses
A) both the quantity of output to produce and the price at which it will sell its output. B) the price of the product it sells but market forces determine the quantity it will be able to sell. C) the quantity of output to produce but the price of the product it sells is determined collectively by all firms in the industry. D) the price of the product it sells but the quantity of output to produce is agreed upon by all firms in the industry.