Quality information for goods that are sold online:
A. is available from ratings given by other buyers.
B. is of no value because anyone can write anything on the Internet.
C. is unavailable because online sellers cannot be identified with certainty.
D. is ineffective at reducing asymmetric information problems.
Answer: A
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Real GDP is not a perfect indicator of economic welfare because ________
A) it includes the underground economy B) it includes a direct measure of health and life expectancy C) it underestimates inflation D) economic welfare depends on many factors not measured or not measured accurately by real GDP
One difference between futures and options contracts is
A) funds change hands daily in the case of options but not with futures. B) funds change hands daily in the case of futures, but not with options. C) in the case of futures funds only change hands when they are exercised. D) futures are designed to reduce risk while options are not.
a spot exchange involves a market where goods are bought and sold at
What will be an ideal response?
Legal tender is
A. money that has a value other than as a currency. B. money that a government has required to be accepted in settlement of debts. C. money that cannot be counterfeited. D. money that must be backed by gold.