Asymmetric information is a situation in which ________ parties to a transaction have relevant private information that is ________ to the other parties.
A) all; unknown
B) some; unknown
C) some; known
D) all; known
B) some; unknown
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Marginal benefit curves slope
A) upward because of increasing opportunity cost. B) upward, but not because of increasing opportunity cost. C) downward because of increasing opportunity cost. D) downward, but not because of increasing opportunity cost.
What is the cumulative effect of a simultaneous increase in area income of 5 percent and a 10 percent increase in prices at Urban General?
a. Quantity demanded at Urban General falls by 4 percent. b. Quantity demanded at Urban General rises by 4 percent. c. Quantity demanded at Urban General rises by 1 percent. d. Quantity demanded at Urban General falls by 1 percent. e. Quantity demanded at Urban General does not change.
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to rise. b. M2 money supply to rise. c. M2 money multiplier to remain the same. d. M2 money supply to fall.
Throughout the developing world, ________ is a problem that affects education.
A. student absenteeism B. teacher absenteeism C. an excess supply of classrooms D. Both A and B are correct.