The superstar effect is that
A) the supply of superstars is more elastic than that for average players.
B) the labor market cannot create equilibrium wages for the best players.
C) the demand for a few players is relatively greater than the demand for most other players.
D) none of these choices.
C
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Which statement is true?
A. There is no one single cause of homelessness. B. Most of the homeless have jobs. C. There are fewer Americans homeless than ten years ago. D. People are homeless because they want to be.
Which of the following statements is false?
A. One of the basic principles capitalism is based on is to "trust no one." B. To have real competition in a market economy no one business should be able to have any influence over price. C. A basic trade-off exists between the goals of equity and efficiency for a society. D. The forces of supply and demand will NOT automatically lead to an equitable distribution of income.
Entrepreneurship functions better when
A. most of the population has low levels of education. B. the government performs the entrepreneurial function. C. saving is relatively low. D. there is a well-defined property rights system.
What role does a company like J.D. Power (which provides product satisfaction reviews) serve?
A) It provides a screening test. B) It provides a signal of quality. C) It reduces moral hazard. D) It reduces costs of giving surveys.