Table 14.1Refer to Table 14.1. In which market do buyers underestimate the chance of getting a lemon?
A. 1 only
B. 2 only
C. 3 only
D. 1 and 3 only
Answer: A
Economics
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When financial institutions are able to reduce the costs of information for each service they offer by applying the same information source to each service, we say that the financial institution is realizing
A) economies of scope. B) economies of scale. C) increasing returns. D) diminishing marginal returns.
Economics
Streaming Netflix movies would be considered:
A. an artificially scarce good. B. a public good. C. a common resource. D. a private good.
Economics
Information that is difficult to measure is called
a. quantitative b. qualitative c. longitudinal d. dependent
Economics
There are about (write number) ______ commercial banks operating in the United States.
Fill in the blank(s) with the appropriate word(s).
Economics