Which of the following would NOT increase German exports to the United States?
A) an appreciation of the U.S. dollar
B) a depreciation of the euro
C) an appreciation of the euro
D) an increase in German demand for U.S. exports
Answer: C
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Two consequences of asymmetric information are adverse selection and moral hazard. An important distinction between the two is
A) adverse selection exists prior to the completion of a transaction while moral hazard occurs after the transaction is completed. B) moral hazard exists prior to the completion of a transaction while adverse selection occurs after the transaction is completed. C) moral hazard leads to an inefficient quantity while adverse selection leads to an efficient quantity. D) adverse selection leads to an inefficient quantity while moral hazard leads to an efficient quantity.
When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is full of customers c. shopping when the car lot has few cars left unsold d. shopping toward the end of the month
The lack of long-term economic development prevalent among many LDCs is evidence that relatively efficient economic markets may lead to socially undesirable outcomes
Indicate whether the statement is true or false
Diamonds are expensive because:
A. they are a form of conspicuous consumption. B. the seller of most diamonds in the world restricts output. C. they are a symbol of luxury. D. very few diamonds are discovered each year.