Sale prices mean that a good's price is
A. equal to the equilibrium price.
B. otherwise set above the market price.
C. temporarily reduced.
D. a meaningless variable.
Answer: C
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A horizontal line has a slope of
A. one. B. zero. C. infinity. D. undefined.
Regardless of whether or not screening or signaling occurs in markets with adverse selection, the equilibrium will always be less efficient than an equilibrium in the same competitive market if there were no asymmetric information.
Answer the following statement true (T) or false (F)
After reading Governor Bradford's account, which is the most accurate statement, given his experience?
a. He considered the problems in the colony to be rooted in the "sine and corruption" of selfishness. b. He agreed with Plato that goods held in a "commone wealth" would make the people "happy and flourishing." c. That assigning private plots of land "made all hands very industrious." d. That assigning private plots of land "for this communitie" caused "much confusion and discontent."
The theory of adaptive expectations points out that when a shift in aggregate demand occurs, people and businesses will rationally expect its impact on output and employment to be temporary and its impact on the price level to be permanent
a. True b. False Indicate whether the statement is true or false