It is in the self-interest of individuals to
A. eliminate the total bargaining costs in any relationship.
B. minimize the total contracting costs in any relationship.
C. maximize the total contracting costs in any relationship.
D. reduce value through formal contracting costs.
Answer: B
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When housing prices decrease, household wealth ________ and consumption ________.
A. increases; decreases B. increases; increases C. decreases; increases D. decreases; decreases
In the United States in 2014, the percentage of people with private health insurance was about
A) 17%. B) 29%. C) 74%. D) 83%.
When a tariff is imposed, the demand curve for the domestic good
A) shifts downward and to the right. B) shifts upward and to the left. C) shifts upward and to the right. D) shifts downward and to the left.
If New England had a Gini coefficient of 0.32 and the Middle Colonies had a Gini coefficient of 0.65, which of the following would be most accurate?
a. The Middle Colonies would have a higher per capita income. b. The Middle Colonies would have a lower per capita income. c. The Middle Colonies would have greater income inequality. d. The Middle Colonies' income was growing faster.