The appreciation of the U.S. dollar relative to the British pound would make a vacation trip to:
A. The United States less expensive for the British
B. London less expensive for Americans
C. London more expensive for Americans
D. The United States of equal value for the British as a vacation trip to London for Americans
B. London less expensive for Americans
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The term that is used to refer to a situation in which one party to a transaction has more or better information than the other party is
A) adverse selection. B) asymmetric information. C) moral hazard. D) deceptive trade practices.
Voters have an incentive to become informed about political issues because the individual's vote is likely to affect the outcome
a. True b. False
When a country that exported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. producer surplus increases and total surplus increases in the market for that good. b. producer surplus increases and total surplus decreases in the market for that good. c. producer surplus decreases and total surplus increases in the market for that good. d. producer surplus decreases and total surplus decreases in the market for that good.
________ unemployment is NOT associated with economic fluctuations.
A. Structural B. Cyclical C. Frictional D. both Structural and Frictional