If Steve's Apple Orchard, Inc is a perfectly competitive firm, the demand for Steve's apples has
A) zero elasticity.
B) unitary elasticity.
C) elasticity equal to the price of apples.
D) infinite elasticity.
D
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Which of the following is not a component of the aggregate demand curve?
a. Government spending (G). b. Investment (I). c. Consumption (C). d. Net exports (X-M). e. Saving.
Virtual Currency Unit 3 (VCU3) is poses a __________ risk to nations in which is it used because ___________________________
a. Low; it conversion back into real world currencies causes no change in M2, the monetary base, or net demand for real goods and services. b. Low; it cannot be converted back into real world (legal tender) currencies. c. High; it can be converted and spent on real-world goods and services. d. High; online companies can create as much as they want, which could overinflate a nation's money supply and excessively increase demand.
Most economists today recognize that a short-run macro failure is possible.
Answer the following statement true (T) or false (F)
Health insurance markets have a problem with insuring people who are "poor health risks" while many people who are "good health risks" do not buy insurance. This problem is an example of
A) moral hazard. B) adverse selection. C) market signaling. D) asymmetric information.