One consequence of the asymmetric-information problem in the used car market, if left unresolved, is the higher probability of:
A. New cars being better than used-cars in quality
B. A declining quality of used cars in the market
C. A rising quality of used cars in the market
D. Used-car buyers willing to pay higher prices
B. A declining quality of used cars in the market
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For the U.S. federal government, mandatory spending refers to
A) spending that is not subject to Congress's annual appropriations process. B) spending that never changes in amount from year to year. C) spending on federal employee salaries. D) spending that must be authorized by Congress each year.
Keynesian economics focused on
A. equally at curing recessions and inflations. B. mainly at curing inflations. C. mainly at curing recessions. D. curing hyperinflation.
Over the range of diminishing marginal product, if the variable input to a firm is increased: a. output will increase more than in proportion to the increase in the input
b. output will increase less than in proportion to the increase in the input. c. output will increase exactly in proportion to the increase in the input. d. output will increase more than in proportion to the increase in the inputs at first, but it will eventually increase less than in proportion to the increase in the input.
List the main employment characteristics over which a labor union negotiates for its workers