Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2013 and 2015
A) 23.8% B) 40% C) 42.9% D) 73.3%
A
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Automobile insurance companies have a problem with people who buy insurance and then drive recklessly or take less care to avoid losses after being insured. In other words, the automobile insurance market is subject to
A) moral hazard. B) adverse selection. C) asymmetric information. D) market signaling.
An speculator who buys a fifty-year corporate bond
A) must be expecting to still be alive in fifty years. B) is subject to substantial reinvestment risk. C) is probably expecting market interest rates to increase in the future. D) is probably expecting market interest rates to decrease in the future.
In Connecticut, the apple market is perfectly competitive. Suppose that consumer tastes change so that the market demand for apples increases. In that case, the demand curves faced by individual firms will
a. not change b. become less elastic c. shift upward d. shift leftward e. shift downward
From 1973 to 1995 the growth rate of labor productivity in the U.S. was approximately
a. ?0.8%. b. 1.4%. c. 2.9%. d. 5.1%.