If insured drivers decide to drive more recklessly than uninsured drivers do, then an adverse selection has occurred
Indicate whether the statement is true or false
FALSE
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Terri is enrolled in her first economics course. She is required to give a presentation about the circular flow. Which of the following statements should she include in her presentation?
A) Households choose the amount of the factors of production to provide the firms. B) Firms choose the amount of the factors of production to provide households. C) Households receive wages for the amount of entrepreneurship they provide firms. D) Firms pay wages for the amount of entrepreneurship they provide households. E) The flows of goods and services and payments for the goods and services flow in the same direction.
A monopoly that is maximizing profits operates in the ________ portion of the demand curve
A) unitary elastic B) elastic C) inelastic D) horizontal
The opportunity cost of going to college:
A. is zero if your parents pay your tuition. B. is equal to the cost of tuition, room and board, and other expenses. C. includes wages you lose by going to school instead of working. D. is the same for all students at a particular school who pay full tuition.
According to the U.S. Secret Service, approximately $2.6 billion of U.S. paper currency in circulation is counterfeit. Undetected counterfeit currency which is spent and circulated in the marketplace is an example of the counterfeit currency being used as a:
A. medium of exchange. B. commodity money. C. store of value. D. bank reserve.