Which of the following is NOT a consumption good?
A) a U.S. government bond
B) a UPS truck
C) Nike swimming trunks
D) a Subway sandwich
E) marriage counseling services
B
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Explain the concept of adverse selection. Give an example
What will be an ideal response?
The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted.
The production effect of the export subsidy is shown by area(s)
A. (d + i + j). B. d. C. b. D. (b + f + g).
In the nation of Gonzo, the number of employed is 95 million, the adult population is 125 million, and the number of unemployed is 5 million. Calculate the unemployment rate, the employment rate, and the labor force participation rate in Gonzo
What will be an ideal response?
Economic profits and losses are true market signals because they
A) convey information in an asymmetrical fashion. B) convey information about rewards people should anticipate experiencing by shifting resources from one activity to another. C) convey information to public officials about where to encourage people to invest and what skills people should develop. D) cause people to move into careers in both undesirable and desirable industries with equal ease.