Bartholomeu Dias was one of the leading explorers from _____
a. England
b. France
c. Holland
d. Portugal
e. Spain
d. Portugal
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The total value of all outstanding federal government securities is called
A) the budget deficit. B) crowding out. C) the public debt. D) the trade deficit.
When a good suddenly becomes more scarce in a free market, caused by a significant increase in consumer demand, then
A) it is a clear sign that households have become more greedy. B) the price will tend to rise rapidly in light of the greater scarcity. C) suppliers will gain in the exchange and buyers will lose. D) the law of demand will be contradicted because people will be buying more, not less, at a higher price. E) all of the above are true.
Define labor productivity. Discuss the relationship between labor productivity, human capital growth, and technology change
What will be an ideal response?
Insurance companies try to mitigate the problem of adverse selection by:
A. asking potential customers a seemingly endless list of questions to gain as much information as they can about the person's risk characteristics. B. charging a higher premium to groups with similar ages or behaviors that correlate with risky behavior. C. charge a higher price to all individuals to cover the lack of information. D. All of these statements are true.