A safe driver would likely choose an auto insurance policy with a
a. low premium and a high deductible.
b. high premium and a high deductible.
c. high premium and a low deductible.
d. high premium and no deductible.
a
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Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. If both Amy and Mike produce the good in which they have comparative advantage, the total annual output of this economy will be ________.
A. 10,000 pounds of cheese and 30 cars B. 10,000 pounds of cheese C. 5,000 pounds of cheese and 20 cars D. 30 cars
A large farming operation which uses a potent fertilizer is located up river from a trout farmer. If property rights of the river exist and transactions costs are low, the amount of pollution will be ________
A) efficient only if the trout farmer owns the river B) inefficient if the farming operation owns the river C) efficient if either the farming operation or the trout farmer own the river D) always inefficient
The demand for novels is ________ than is the demand for science textbooks because ________.
A. less price elastic; novels have less available substitutes. B. less price elastic; novels have more available substitutes. C. more price elastic; novels have more available substitutes. D. more price elastic; novels have less available substitutes.
Which of the following will not increase the opportunity for internal financing of capital?
A. Improved banking facilities. B. Transparent capital markets. C. Saving incentives. D. Seizing of private banks by the government.