Which of the following is correct?
a) Sometimes recessions are close together.
b) Spending, income, and production do not fluctuate closely with real GDP.
c) Recessions have never occurred very close together.
d) Economic fluctuations are easily predicted by competent economists.
Answer: a) Sometimes recessions are close together.
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Moral hazard:
A. always happens when adverse selection is a problem. B. never happens when adverse selection is a problem. C. can happen when adverse selection is a problem. D. None of these statements is true.
All of the following would show a more equal distribution than the distribution of money income EXCEPT
A. after-tax income. B. lifetime earnings. C. total income. D. wealth.
Refer to the information provided in Figure 32.3 below to answer the question(s) that follow.
Figure 32.3Refer to Figure 32.3. Suppose the economy is at Point C. According to the new classical theory, an anticipated decrease in aggregate demand
A. moves the economy to Point A. B. moves the economy to Point B. C. leaves the economy at Point C. D. moves the economy to Point D.
If a buyer who wants product A is required by the seller to buy its products B and C as well, this is called:
A. An exclusive contract B. Profit maximization C. Competitive pricing D. A tying contract