States with no-fault automobile insurance have lower crash fatality rates than states with ordinary automobile insurance
Indicate whether the statement is true or false
F Crash fatalities are 7 to 13 percent higher in states that have no-fault insurance.
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Losses are important to a competitive price-searcher market (industry) because they send a message to the market participants that
a. more resources should be devoted to a particular industry. b. resources can rise in value if diverted away from that particular industry. c. resources are allocated exactly as they should be. d. the firms should charge lower prices.
Which of the following is characteristic of a downturn in the business cycle?
A. Higher unemployment rates B. Higher prices C. Growth in real output D. Increased population
Which of the following statements best captures the intuitive reason behind discounting?
A) Since incomes rise over time, discounting means that we place less weight on benefits and costs today and more weight on benefits in the future. B) Since dollars today can be invested, to obtain $1 in the future we have to give up less than $1 today. Hence future benefits and costs are given more weight than benefits and costs today. C) Since investments yield a return, we have to give up less than $1 today to obtain $1 in future benefits. Hence we place less weight on future benefits and costs than we would on benefits and costs that dollars occur today. D) Since dollars today can be invested, yielding a positive return, discounting places more weight on future returns.
Which of the following is a characteristic of monopolistic competition?
A) few firms B) homogeneous products C) easy entry and exit D) strategic dependence