Adverse selection occurs when there is
A) full information.
B) unobserved behavior.
C) an unobserved characteristic.
D) a worker who shirks because his boss does not watch him.
C
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Use the following reserve-requirements table to answer the next question.Type of DepositReserve RequirementCheckable deposits $7.8 - $48.3 million3%Over $48.3 million10Noncheckable personal savings and time deposits0If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are
A. $1.8 million. B. $1.2 million. C. $3 million. D. $30 million.
A change in any of the ceteris paribus conditions for demand leads to a
A) a good going from an inferior good to a normal good. B) movement along the demand curve. C) shift of the demand curve. D) change in supply.
A perfectly competitive firm currently sells 30,000 cartons of eggs at $0.50 each. If the firm wants to sell one more carton of eggs, the firm
a. should raise its price above $0.50 b. should price the carton at $0.50 c. must sell the carton for less than $0.50 d. cannot sell an additional carton at any price because there are other egg farmers in the market
A grocery store hires cashiers and baggers. Cashiers earn $8 an hour; baggers earn $4 an hour. The manager, who wants to maximize the number of customers served given a fixed payroll, expects the following productivity from cashiers and baggers: 
Given the above information, what is the maximum possible number of customers that can be served with a payroll of $32?
A. 312 B. 936 C. 1208 D. 864 E. none of the above