Suppose the refrigerator repairman charges you for two hours of labor even though he could have fixed it in ten minutes. This is an example of
a. natural selection
b. moral hazard
c. hidden actions
d. external costs
e. hidden characteristics
C
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A growth process whereby relatively poorer nations increase their income by taking advantage of knowledge and technologies already invented in other, technologically more advanced countries is referred to as:
A) trade-based growth. B) transfer growth. C) innovative growth. D) catch-up growth.
In the United States, ________ profits are taxed at both the corporate level and when investors receive dividends
A) corporate B) a sole proprietor's C) a partnership's D) all of the above
Peaks and troughs of the business cycle are known collectively as
A) volatility. B) turning points. C) equilibrium points. D) real business cycle events.
Most checkable deposits are insured up to $250,000 by
a. state banking commissions. b. the Federal Reserve Board. c. U.S. Department of the Treasury. d. the Federal Deposit Insurance Corporation.