Asymmetric information generally leads to efficient resource allocation
a. True
b. False
Indicate whether the statement is true or false
False
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What is Joseph Stiglitz' main criticism regarding intellectual property rights protection?
What will be an ideal response?
Which of the following elements are commonly emphasized by people who criticize advertisements?
a. increases elasticity; harms competition; manipulates consumer tastes b. increases elasticity; provides service information; causes demonstration effect c. provides service information; causes demonstration effect; manipulates consumer tastes d. harms competition; causes demonstration effect; manipulates consumer tastes
Briefly explain what you would expect to see happen to spending on health care over time, with health care being considered as a normal good
What will be an ideal response?
A market includes
a. buyers only. b. sellers only. c. both buyers and sellers. d. the place where transactions occur but not the people involved.