The moral hazard in team production arises from
a. poorly designed team membership
b. lack of proper assignment of individual tasks
c. disorganization in groups
d. a conflict between tactically best interest and one's duty
e. insufficient experience
d
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Suppose the government decides that a particular commodity is a luxury and decides to fix its price above the market-determined price. What implications could this policy have?
What will be an ideal response?
Credit cards perform the same functions as money as long as the card holder's bank account has sufficient funds to allow the transactions
a. True b. False Indicate whether the statement is true or false
Who is likely to be in favor of a country that would be a net-importer if it moved from autarky to free trade?
A. Foreign consumers B. Foreign governments. C. Domestic producers D. Domestic consumers
The best measure of living standards is
A. GDP per capita. B. Investment as a percentage of GDP. C. The ratio of current GDP to GDP in the base period. D. GDP per worker.