What is one of the most important benefits of the Internet?
A) The Internet has increased asymmetric information.
B) The Internet has reduced asymmetric information.
C) The Internet has increased moral hazard.
D) The Internet has increased transaction costs.
B
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A nation will import a good if its no-trade, domestic
A) price is equal to the world price. B) price is less than the world price. C) price is greater than the world price. D) quantity is less than the world quantity. E) quantity is greater than the world quantity.
Those who favor passive policy making argue that all of the following exist EXCEPT
A) perfectly flexible wages and prices. B) the trade off between inflation and unemployment is not stable in the short run and is non-existent in the long run. C) pure competition is typical. D) aggregate demand shocks can influence real GDP and unemployment.
For a linear demand curve, where is the amount of total expenditures on a good maximized?
What will be an ideal response?
When regulations interfere with exchange and limit entry into various businesses and occupations, they will
What will be an ideal response?