Economic ________ occurs when two or more nations join to form a free-trade zone.
A. conjugation
B. correlation
C. integration
D. immigration
Answer: C
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Many fast-food restaurants have signs on their cash registers that read, "Your meal is free if the cashier does not give you a receipt". What might be the purpose of such a sign? Hint: there is a moral hazard problem here
What will be an ideal response?
Exhibit 3-5 Supply for Tucker's Cola Data Quantity supplied per week(millions of gallons) Price pergallon 6 $3.00 5 2.50 4 2.00 3 1.50 2 1.00 1 .50 As shown in Exhibit 3-5, the price and quantity supplied by sellers of Tucker's Cola have a(n) ____ relationship.
A. direct. B. inverse. C. negative. D. zero.
Which of the following statements is TRUE about the price that a monopolist charges?
A. The difference between the price charged by a monopolist and a perfect competitor is due to differences in costs. B. Too much of the good is being produced in a competitive market and not enough is being produced in a monopoly. Due to the way that prices are set. C. The price is the same as the price that would be charged if there was perfect competition. D. The value that society places on the last unit produced in a monopoly is greater than its cost.
The lemons problem is due to
A) asymmetric information. B) moral hazard. C) hidden actions. D) symmetric information.