All food bought in the United States has an ingredient list on the packaging. This is an example of:
A. screening.
B. signaling.
C. requiring the more informed party to reveal missing information.
D. building a reputation.
C. requiring the more informed party to reveal missing information.
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If the cost of capital increases the isocost line will
A) stay the same. B) shift outward in parallel fashion. C) rotate inward around the point where only labor is employed in production. D) shift inward in parallel fashion.
A country producing a combination of 5 units of guns and 6 units of butter would be _________________ (outside/on/inside) the production possibilities curve
What will be an ideal response?
Which of the following is included in government expenditures when measuring GDP?
A) Social Security payments B) unemployment compensation payments C) pension payment made to past presidents D) the current president's salary
Specific prices are rising, and relative prices are falling.
A. Both relative prices and average prices are rising. B. Relative prices are rising, but it is not certain what is happening to average prices. C. Average prices are rising, but it is not certain what is happening to relative prices.