Type II error is:
a. when a beneficial drug is blocked from entering a market.
b. easy to detect and seldom happens.
c. the statistical notion of rejecting a true hypothesis.
d. when a harmful drug is allowed into the market.
a. when a beneficial drug is blocked from entering a market.
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Someone in Germany has just ordered a U.S. car to be exported to Germany. In the U.S. balance of payments, this purchase is a(n)
A) accounting identity. B) special draw. C) surplus item. D) deficit item.
Compared to the case in which a monopoly insurer offers the consumer a contract, if insurance is competitively provided:
a. any moral hazard or adverse-selection problem is alleviated. b. any moral hazard or adverse-selection problem is worsened. c. the essence of any moral hazard or adverse-selection problem would not change much. d. insurers would no longer offer menus of contracts.
Imagine that there are only two nations in the world, the United States and Mexico. If Americans buy more goods made in Mexico, other things constant, the
a. U.S. demand curve for Mexican pesos will shift rightward b. U.S. demand curve for Mexican pesos will shift leftward c. U.S. supply curve of Mexican pesos will shift leftward d. U.S. supply curve of Mexican pesos will shift rightward e. U.S. supply curve of Mexican pesos will shift upward
With the benefits of international trade:
a. there can be increased consumption for all. b. global production will be increased. c. world resources will be used more efficiently. d. all of these are true.