Adverse selection in employment is more likely when:
A. jobs require specific training.
B. everyone is equally qualified for the job.
C. people's abilities are easy to measure.
D. people's abilities are difficult for potential employers to observe.
Answer: D
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An elastic demand is one in which the elasticity is greater than:
a. two. b. four. c. one. d. three.
Between 1929 and 1933, NNP measured in current prices fell from $96 billion to $48 billion. Over the same period, the relevant price index fell from 100 to 75
a. What was the percentage decline in nominal NNP from 1929 to1933? b. What was the percentage decline in real NNP from 1929 to 1933? Show your work.
What is the amount of tariff imposed on a ton of sugar? 
A. $1,000 B. $500 C. $1 D. $50
If an economy experiences an increase in its capital stock, everything else constant, then its production possibilities frontier (PPF) will
A) expand outward but keep its original shape. B) expand outward largely in the direction of the labor intensive good. C) expand outward largely in the direction of the capital intensive good. D) not expand until the labor force grows.