Price controls would ordinarily be used to increase rather than decrease prices of depletable resources
a. True
b. False
Indicate whether the statement is true or false
False
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Travel insurance (which pays a traveler if the traveler needs to cancel his or her trip) has a clause that states it will not pay if the trip is cancelled because of a pre-existing condition
If sick people are more likely to purchase travel insurance, this clause is meant to A) reduce moral hazard. B) reduce adverse selection. C) increase moral hazard. D) increase adverse selection.
There is no evidence that minority employment has risen as a result of affirmative action initiatives
Indicate whether the statement is true or false
Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
If Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price, then what will be Quick Buck's economic profit?
A. $4,000 B. $3,000 C. $2,000 D. $1,000
Firms would increase output as a reaction to
A. increases in costs of resources. B. unplanned inventory increases. C. decreased demand for output. D. unplanned inventory reductions.