Which of the following is an example of search costs?
A) Isabel knows that other neighbors' sleep patterns must also be affected by the howling dogs in her neighborhood and sets out to find those neighbors.
B) Isabel is bound and determined to to find out which of her neighbors owns the howling dogs that are preventing her from getting a full night's slee
B
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Refer to Figure 7-5. If consumers paid the full price of medical services, the equilibrium quantity would be
A) 400. B) 800. C) 1,200. D) > 1,200.
Credit markets are
A) bad, as they cause people to accumulate debt. B) not important for the financial crisis. C) important, but given too little attention in the past by macroeconomists. D) markets that work perfectly.
An increase in the price of milk causes a decrease in the demand for cereal. The two products are
a. demand sensitive b. substitutes c. demand inelastic d. complements
A highly active role by government may be needed to promote economic growth in low-income DVCs because of:
A. a lack of infrastructure. B. rigid law enforcement in the country. C. excessive local entrepreneurship. D. all these reasons.