Because of the Great Recession of 2008, the trade deficit in 2009 relative to the trade deficit in 2006 was?
A. twice.
B. three times.
C. one fourth.
D. one half.
D. one half.
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In the market for automobile insurance, adverse selection implies that
A) those who are insured might take greater risks. B) those who are uninsured might take greater risks. C) insured and uninsured alike will take greater risks. D) drivers with greater risks are more likely to buy insurance.
In the game in Scenario 13.4, the equilibrium outcome:
A) is for both NRG and Vita to sponsor the marathon. B) is for both NRG and Vita to sponsor the TV show. C) is for NRG to sponsor the marathon and Vita to sponsor the TV show. D) is for NRG to sponsor the TV show and Vita to sponsor the marathon. E) does not exist in pure strategies.
If an employer's behavior is supportive of the theory of efficiency wages, the employer would
a. raise wages in an effort to increase worker effort. b. raise wages in an effort to increase worker turnover. c. decrease wages in an effort to increase worker effort. d. decrease wages in an effort to increase worker turnover.
What situation would make the demand for new cars relatively more price elastic?
a. Auto manufacturers have a difficult time hiring skilled workers. b. Auto manufacturers find it easy to hire skilled workers. c. Car buyers are prosperous, and they are seeking luxury cars. d. There is a plentiful supply of used cars.