The national debt passed the $2 trillion mark in
A. 1980.
B. 1982.
C. 1984.
D. 1986.
D. 1986.
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A good or service can be consumed by a person even if he or she didn't pay for it is called ________ good
A) a private B) a public C) a normal D) an inferior E) an external
The president of Toyota's Georgetown plant was quoted as saying, "Demand for high volumes saps your energy. Over a period of time, it eroded our focus [and] thinned out the expertise and knowledge we painstakingly built up over the years"
This quote suggests that A) as Toyota expanded its capacity, it experienced diseconomies of scale. B) Toyota was focused on "churning" out cars for which it did not invest sufficiently in training its workers. C) high demand for Toyota's cars prevented the company from focusing on its strength: auto design. D) Toyota was experiencing an excess demand for its automobiles which it had difficulty keeping up with.
When the price of nuclear missiles rises, this change is reflected in the CPI but not in the GDP deflator
a. True b. False Indicate whether the statement is true or false
Which of the following statements best describes the problem of adverse selection?
a. A type of asymmetric information in which one side of an economic relationship can take a relevant action that the other side cannot observe. b. An approach that borrows insights from psychology to help explain economic choices. c. The notion that there is a limit to the information that a firm's manager can comprehend and act on. d. The plight of the winning bidder who overestimates an asset's true value.