The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for computers after technological advances in making computers occur?
A) Graph A
B) Graph B
C) Graph C
D) Graph D
B
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One way of reducing the moral hazard problem in the automobile insurance market is for drivers to
A) carry high deductibles. B) carry no deductibles. C) all have good driving records. D) never make any claims.
If a professional sports athlete signs a new contract which defers compensation until years after she is retired, she is signaling
A) that she does not plan to shirk in the future, regardless of whether she did so in the past. B) that she did shirk and she will do so in the future. C) that she did shirk but won't do so in the future. D) that she didn't shirk and she won't do so in the future.
The set of skills, knowledge, experience, and talent that determine the productivity of workers is called:
A. human capital. B. physical capital. C. worker per capita. D. capital per worker.
Human capital is also known as
A. wages employees receive. B. the cost of collective bargaining. C. the cost of labor. D. education and skill levels.