The nutritional information now available at many fast food restaurants is an example of:
A. a failed attempt by government to reduce information asymmetry.
B. requiring the more informed party to reveal the missing information.
C. government regulation to screen out unhealthy food for consumers.
D. government requiring the restaurants to signal whether food is healthy or not.
B. requiring the more informed party to reveal the missing information.
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The minimum wage is a
A) factor that decreases unemployment because fewer people search for work if the minimum wage is increased. B) possible cause of job search because it lowers wages below their equilibrium. C) possible cause of job rationing because it raises wages above their equilibrium. D) possible cause of job rationing because it lowers wages below their equilibrium. E) government established highest wage that is legal to pay.
Advertising intended to induce a consumer to discover a previously unknown taste or preference is
A) persuasive advertising. B) informational advertising. C) direct advertising. D) mass marketing advertising.
About _____% of Americans between the ages of 25 and 60 will experience at least one year below the official poverty line
a. 3% b. 10% c. 27% d. 40%
Normative statements are
a. prescriptive, whereas positive statements are descriptive. b. descriptive, whereas positive statements are prescriptive. c. backward-looking, whereas positive statements are forward-looking. d. forward-looking, whereas positive statements are backward-looking.