A 2 percent wage increase for teachers or police officers
A. is usually offset by higher output per worker.
B. leads to increases in municipal budgets.
C. indicates that teachers and police have become more selfish.
D. leads to more personalized service.
Answer: B
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Which of the following has a present value of $100?
a. $109.12 in two years when the interest rate is 4 percent b. $113.98 in two years when the interest rate is 6 percent c. $116.64 in two years when the interest rate is 8 percent d. $123.17 in two years when the interest rate is 10 percent
In order to maintain high prices, a cartel must get its members to
A. develop new sources. B. leave production unchanged. C. reduce production. D. increase production.
The tax rate structure is the
A. measure of who pays the tax. B. study of how taxes change over time. C. measure or value upon which a tax is levied. D. percentage of a tax base that must be paid in taxes.
________ is (are) used to distinguish between high and low quality and help correct the adverse selection problem.
A. Market signals B. Moral hazard C. Payoffs D. Asymmetric information