Refer to Table 2-4. Assume Dina's Diner only produces sliders and hot wings. A combination of 20 sliders and 60 hot wings would appear
A) along Dina's production possibilities frontier.
B) inside Dina's production possibilities frontier.
C) outside Dina's production possibilities frontier.
D) at the vertical intercept of Dina's production possibilities frontier.
B
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When an individual deposits currency into a checking account:
A. bank reserves decrease, which reduces the amount banks can lend and reduces the growth of the money supply. B. bank liabilities increase, which reduces the amount banks can lend and reduces the growth of the money supply. C. bank reserves are unchanged. D. bank reserves increase, which allows banks to lend more and increases the money supply.
The recent Enron and Tyco scandals are an example of
A) the free-rider problem. B) the adverse selection problem. C) the principal-agent problem. D) the "lemons problem."
An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they require a co-payment
Which of the following leads to monopolistic competition?
a. Fluctuation in the price of a product during a particular year b. The variety of styles, flavors, locations, and characteristics associated with a product c. A change in the total number of firms producing an identical product d. Government intervention in the form of license and quality control associated with a product