When ticket scalping is legal, economists insist that the market created ensures that
A. the promoter makes the most money possible.
B. the performers make the most money possible.
C. the people who care the most in their hearts will see the event.
D. the people who are willing to give up the most money will see the event.
Answer: D
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John has been trying to find a job for the past six months. He went for an interview at Aqua Inc Although his performance was better than that of all the other candidates, the interview board rejected him thinking that they must be missing out on
something about him that other employers have noticed and hence, have not hired him. A(n) ________ has occurred in this case. A) positive externality B) negative externality C) moral hazard D) information cascade
Which of the following explains why the demand for money curve has an inverse relationship between the interest rates and the quantity of money demanded?
a. As the interest rate rises, the opportunity cost of holding money rises, and people respond by converting cash or checking account balances into interest-bearing financial investments. b. As the interest rate rises, people find it advantageous to borrow money, which increases the quantity of money demanded. c. As the interest rate falls, the opportunity cost of holding money rises, and people respond by converting cash or checking account balances into interest-bearing financial investments. d. As the interest rate rises, the demand for money curve shifts outward to the right.
The country that suffered an extreme inflation rate of 89,700,000,000,000,000,000,000 percent in November 2008 was
a. England b. Zimbabwe c. Germany d. Egypt e. the former Soviet Union