The buyers of a good will want to purchase it as long as their willingness to pay for the good is:
A) equal to zero.
B) greater than zero.
C) less than the price.
D) greater than or equal to the price.
D
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Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for blu-ray discs. Which panel best describes what happens in this market if there is a substantial increase in the price of blu-ray players?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Which of the following institutions are NOT examples of financial intermediaries?
A) 1st National Bank, Chemical National Bank, Chase Manhattan National Bank B) Farmer's Credit Union, 1st Mortgage Bank, IBM Credit Union C) a Savings and Loan, New York Savings and Loan, First American Savings and Loan D) the New York Stock Markets, Chicago and Pacific
In a Malthusian world, what would improve the standard of living temporarily?
A) a war B) a new virus C) birth control D) democracy
Because the seller of a used car has more information than the buyer:
A. the problem of moral hazard occurs. B. the problem of information overload occurs. C. the problem of adverse selection occurs. D. the problem of bargaining imbalance occurs.