a. true
b. false
Ans: b. false
Which of the following is a positive economic statement?
Restrictions that limit sugar imports, subsidies for the construction of sports stadiums, and federal spending on programs like the construction of an indoor rain forest in Iowa all provide examples of government programs
What will be an ideal response?
Explain the difference between a "change in quantity supplied" and a "change in supply."
What will be an ideal response?
J.T. Smith's company, Gamemaker, sells gambling equipment to gaming service companies. Since the quality of the equipment is difficult to monitor and gamblers are often the source of machine failure, Smith could cheat on the level of machine quality. However, Smith has a strong quality assurance program. A primary reason for that may be
A. the asymmetric information Smith holds on quality. B. company reputation. C. the need for reinforcement. D. cost containment.