Which of the following is a positive incentive?
A. A school teacher decides to retire and focus on gardening.
B. A business decides to leave the industry.
C. McDonalds decides to offer a white chocolate mocha.
D. Discover credit cards offer 0 percent balance transfer rates for someone to open a new account.
Answer: D
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Firms rarely offer unlimited warranties on their products, because then their customers would be less careful with upkeep and maintenance. This situation is an example of
a. confiscation of rents. b. a speculative bubble. c. moral hazard. d. the principal-agent problem.
The data in the table above are the U.S. balance of payments. The capital and financial account balance is
A) $0. B) -$80 billion. C) -$200 billion. D) +$200 billion.
If total utility increases at a decreasing rate as a consumer consumes more coffee, then marginal utility must
A) decrease. B) remains constant. C) be negative. D) increase also.
What are the three factors that affect the demand for foreign currency?
What will be an ideal response?