Amazon's Home Services website connects customers of appliances with professionals who can install appliances for those customers. As a result of this service, Amazon is a
A. loss leader.
B. supermarket.
C. platform firm.
D. voluntary firm.
Answer: C
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According to the traditional (crowding-out) view, what impact do budget deficits have on the economy?
Severe adverse-selection problems may result in
a. too few good used cars being offered for sale. b. wages that are too low relative to equilibrium levels. c. too many good drivers buying too much automobile insurance. d. people with average health buying too much health insurance.
The logic of the multiplier effect applies
a. only to changes in government spending. b. to any change in spending on any component of GDP. c. only to changes in the money supply. d. only when the crowding-out effect is sufficiently strong.
Consider an NBA superstar Kobe Bryant and one of your economics professors. Who is likely to receive more economic rent in his/her job? Explain your answer
What will be an ideal response?