What is one of the most important benefits of the Internet?
A) The Internet has increased asymmetric information.
B) The Internet has reduced asymmetric information.
C) The Internet has increased moral hazard.
D) The Internet has increased transaction costs.
B
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Scarcity is illustrated graphically by a production possibilities frontier.
Answer the following statement true (T) or false (F)
The extent of discrimination is
A. measured by the differences in incomes. B. the reason for two-thirds of the income differential between black male workers and white male workers. C. difficult to quantify and controversial. D. easily measured for each category of workers.
A sales tax on sellers a good leads to a loss of consumer surplus, but a price ceiling or a price floor on that same product will not
Indicate whether the statement is true or false
In her calculation of the cost of going to college, an economist would include the amount of forgone earnings over the years spent at college
a. True b. False Indicate whether the statement is true or false