Which of the following does not determine a good's price elasticity of demand?
a. the time interval considered
b. the number of substitutes there are for the good
c. expenditures on the good as a percentage of the total consumer budget
d. the slope of the demand curve
e. the more of a luxury a particular good is
D
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A) creates moral hazard but eliminates adverse selection. B) creates adverse selection but eliminates moral hazard. C) creates both moral hazard and adverse selection. D) eliminates both moral hazard and adverse selection.
A monopolist will always charge the highest price it can get.
Answer the following statement true (T) or false (F)
An example of a factor of production for Dell is
A) stock issued by Dell. B) the computers exported by Dell. C) corporate bonds sold by Dell. D) a worker hired by Dell.
Your friend recently graduated from college and is actively looking for employment. The economy has completely recovered from the last recession and your friend is taking her time, looking for the "perfect" job. In the meantime, the unemployment she is experiencing is categorized as
A) cyclical. B) structural. C) seasonal. D) frictional.