Supply and demand curves can only reflect
a. total social costs
b. private, or internal, costs and benefits
c. external costs and benefits
d. external benefits
e. external costs
B
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Which of the following relationships involves asymmetric information?
a. A recruiter for a college football team evaluates the performance of a high-school player. b. A loan applicant knows more about the likelihood her business will be successful than the loan officer. c. Someone considering buying running shoes looks at a number of online reviews by buyers. d. All of the above are correct.
Ceteris paribus, if structural unemployment increases, the economy is
A. Outside the production possibilities curve. B. On the fixed production possibilities curve. C. On the production possibilities curve that shifts inward. D. Inside the production possibilities curve.
A drop in six-month LIBOR is good news to __________ in a swap contract
A) the fixed-rate payer B) the floating-rate payer C) both payers D) neither payer
Refer to the table shown. If the average product is 8, the number of workers is:Number of workersMarginal product of workers1527384105116775839010?1
A. 2. B. 8. C. 6. D. 4.