You own a 2007 Ford Explorer. Although it has high mileage, you have maintained it very well
You want to sell it, but after checking the prices other owners of 2007 Ford Explorers are able to get for their cars in the used car market, you decide the prices are too low and you decide not to sell. This is an example of A) the "lemons problem."
B) moral hazard.
C) economies of scale.
D) low information costs.
A
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The four distinct tools of policy used by the Fed to influence the money supply are
A) interest rates, government spending, tax rates, and government transfer payments. B) open market operations, discount policy, reserve requirement policy, and adjusting interest on reserves. C) open market operations, adjusting the exchange rate of the dollar, government purchases, and reserve requirement policy. D) reserve requirement policy, discount policy, interest rates, and tax rates.
Two types of barriers to entry are called ________ barriers to entry and ________ barriers to entry
A) legal; illegal B) natural; legal C) natural; illegal D) natural; rent seeking E) ownership; rent seeking
The term net exports refers to:
a. the situation in which a country's exports exceed its imports. b. the situation in which a country's imports exceed its exports. c. the shortages that result when a country imposes a price ceiling. d. the shortages that result when a country imposes a price floor. e. the difference between the value of exports and the value of imports.
Real wages in the United States tend to rise at the same rate as
a. prices. b. tax rates. c. average productivity levels. d. inflation.