In a market system, self-interest motivates most people to:
A. avoid paying insurance premiums.
B. remain self-sufficient.
C. provide products for other people.
D. rely on government central planning.
Answer: C
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Which of the following is NOT a reason for the government to regulate a nonmonopolistic industry?
A) to allow firms to achieve the profit maximizing output B) asymmetric information C) to protect consumer interests D) market failures
Appendix: In Dutch auctions, the bidding
a. starts low and rises until the highest bidder wins. b. is done in secret "sealed bids" which are opened at a specified time. c. begins with a very high price, and is reduced until the first person takes it. d. is accomplished by giving the price of the second highest bid to the highest bidder.
A U.S. grocery chain borrows money to buy a warehouse in Ohio and another in Italy. Borrowing for which warehouse(s) is included in the demand for loanable funds in the U.S.?
a. both the one in Ohio and the one in Italy b. only the one in Ohio c. only the one in Italy d. neither the one in Ohio nor the one in Italy
Unemployment that results from a mismatch of workers' abilities and skills with current requirements of employers is
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. seasonal unemployment.