Technology spillovers are examples of negative externalities
a. True
b. False
Indicate whether the statement is true or false
False
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A firm that screens candidates to determine how well they would work with limited supervision is afraid of facing
a. Adverse selection b. Moral hazard c. Forced bankruptcy d. None of the above
The law of diminishing marginal utility may be illustrated by a person
a. buying additional goods after getting a pay raise b. eating more twinkies but enjoying them less c. giving some of income to a needy person d. who spends more hours studying than do his fellow students e. buying goods so long as their marginal utility is greater than zero
One way to reduce pressure for Mexicans to cross the U.S. border illegally is to create job opportunities in Mexico
a. True b. False
How can the market demand for a product be inelastic but the demand for a particular firm is elastic?
A) There is no advertising. B) There is a sufficiently large number of sellers. C) There is only one or two sellers. D) Buyers do not have complete information.