One result of adverse selection in the used car market is that few plums (high-quality) are sold.
Answer the following statement true (T) or false (F)
True
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Modern paper money is fiat money because it is backed only by the faith the holder has in the government that issued it.
Answer the following statement true (T) or false (F)
Generally, economies of scope are present when
A) economies of scale are present in the production of two or more goods. B) economies of scale are constant in the joint production of two products. C) joint output is less from a single firm than could be achieved from two different firms each producing a single product (assuming equivalent production inputs in both situations). D) joint output is greater from a single firm producing two goods than could be achieved by two different firms each producing a single product (assuming equivalent production inputs in both situations).
If the price of a digital SLR camera in Japan is ¥55,000 . and the exchange rate is 93 ¥/$, calculate the dollar price of the digital SLR camera in Japan
a. $603.29 b. $397.48 c. $886.82 d. $591.40 e. $101
None of the transition economies avoided the transition recession
a. True b. False