If a person would buy equipment with safety features that cost $100 extra and those features reduce the chance of having a fatal accident by 1/500, the person is implicitly valuing his or her life at a minimum of:
A. $5.
B. $50,000.
C. $500,000.
D. $5,000.
Answer: B
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Adverse selection refers to a situation in which
a. employers have more information about a job's salary than the job candidate does b. a job candidate has more information about the job's salary than the employer does c. employers have more information about a job candidate's abilities than the candidate does d. a job candidate has more information about her abilities than the employer does e. only below-average job candidates apply for a job
Backward linkages are the demands created by new supply capacities
Indicate whether the statement is true or false
Which of the following countries had the highest level of output per capita in 1950?
A) United States B) France C) Japan D) United Kingdom
The right to openly support and to elect leaders in a democratic way is known as
A. political freedom. B. economic freedom. C. external freedom. D. constitutional freedom.