Currently, the United States imports more than it exports
a. True
b. False
Indicate whether the statement is true or false
True
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Railroads attracted funds from foreign investors
Indicate whether the statement is true or false
Assume the United States is considering either a tariff or a quota to protect motorcycles
For each of the following groups, list whether they should prefer either the tariff or the quota, or be indifferent between the two: importer of motorcycles, taxpayers, foreign producer of motorcycles.
An example of an implicit cost is
A) payment of a salary to a CEO of a company. B) a business using a building owned by the business owner. C) a payment to a resource owner. D) the payment of interest on a bond.
One difference between moral hazard and adverse selection is
a. Adverse selection has to do with unobservable characteristics of individuals b. Adverse selection has to do with unobservable actions of individuals c. Adverse selection is when individuals most appropriate for positions are most likely to apply for them d. Adverse selection is when you choose the wrong answer on a test