In order to identify their used cars as plums (high-quality), many used car dealers:
A. raise the minimum price of plums (high-quality).
B. advertise their prices.
C. offer money-back guarantees.
D. raise the minimum price of lemons (low-quality).
Answer: C
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How would you define exchange control?
A) The government allocates foreign exchange through decree rather than through the market. B) a country NOT pegging its exchange rate C) a country pegging its exchange rate D) a country buying up excess current account so that CA=0 E) a country restricting all foreign exchange
Consumer purchases which are consumed at the time and place of purchase are categorized by the Bureau of Economic Analysis as
A) durable goods. B) nondurable goods. C) services. D) investments.
The motives of accountants and their clients are not free of conflicts
Indicate whether the statement is true or false
If an industry consists of five firms each with a 20% market share, then the Herfindahl-Hirschman index would equal 1,600
a. True b. False Indicate whether the statement is true or false