Our Previous Essays

Chapter_19_The_Problem_of_Adverse_Selection 1. A risk averse individual a. values a lottery at more than its expected value b. values a lottery at exactly its expected value c. values a lottery at less than its expected value d. tends to play lots of lotteries ANSWER: c TOPICS: Section 1: Insurance and Risk 2. An individual who is a risk lover a. values a lottery at more than its expected value b. values a lottery at exactly its expected value c. values a lottery at less ...

1. When interest rates go up, people are a. More likely to borrow b. Less likely to borrow c. Does not affect a person’s consumption d. None of the above ANSWER: b TOPICS: Section 1: The Market for Foreign Exchange 2. When interest rates fall, people are a. More likely to borrow b. Less likely to borrow c. Not likely to change borrowing patterns d. None of the above ANSWER: a TOPICS: Section 1: The Market for Foreign Exchange 3. Holding oth...

Question 1 1 out of 1 points In a principal-agent relationship Selected Answer: the principal wants the agent to act on her own behalf Answers: the principal wants the agent to act on her own behalf the agent wants the principal to act on his behalf the principal wants the agent to act on the behalf of others the agent wants the principal to act on the behalf of others Question 2 1 out of 1 points A potential problem arises in principal-agent relationships Selected Answer: because the a...

CHAPTER 22 1) A division of a firm is a) a logical sub-organization of the firm b) a level within the firm in which a large degree of autonomy is vested c) a level of hierarchy within a firm that defines the scope of a manager d) all of the above ANS: A 2) An example of organizational architecture based on the different functions of a firm is when divisions are defined as a) R&D, Engineering, Production, Marketing, Sales b) Component 1 Plant, Component 2 Plant, Component 3 Plant, Final Assemb...

Ch. 13 1. Which of the following is an example of price discrimination? a. Seniors paying a lower price for tickets at movie theatres b. Students paying discounted rates on travel c. Tourists paying higher prices on local attractions than locals d. All of the above ANSWER: d 2. The practice of buying a firm’s good in one market at a low price and selling it in another market for a higher price in order to profit from the price difference is known as a. Predatory ...

This study source was downloaded by 100000809576529 from CourseHero.com on 05-21-2024 00:56:48 GMT -05:00 https://www.coursehero.com/file/50963662/Week-8-Written-Assignment-ECONdocx/ [1] Which of the following markets are closest to perfectly competitive [A] The market for smart phones [B] The market for generic pharmaceuticals [C] The market for sport shoes [2] A firm in a ______________ faces a __________ demand curve. [A] perfectly competitive market; perfectly inelastic [B] perfectly c...

1 All information provided for reference only Join us on Facebook.com/thetopgrades CHAPTER 2 1) When the market is in equilibrium, a) Total surplus is minimized b) Total surplus is maximized without government intervention c) Government maximizes total revenue d) None of the above ANS: B 2) The difference between the minimum price the producer is willing to accept and the price the producer actually receives for a product is referred to as: a) mar...

CHAPTER 18 1) An oral auction a) is also called an English auction b) is where bidders submit increasing bids until all but one remains c) is where the sole remaining bidder wins and pays his winning bid d) all of the above ANS: D 2) A second-price auction a) is also called a Vickrey auction b) is conducted by bidders submitting a single sealed bid c) is where the highest bidder wins and pays the amount of the next highest bid d) all of the above ANS: D 3) An oral auction a) is also called a V...

CHAPTER 17 1) When a variable can take on different values a) it is a random variable b) it is a dependent variable c) it is an independent variable d) it is an exogenous variable ANS: A 2) The expected value is a) the product of the sums of the probability and the values in different states b) the sum of the products of the probability and the values in different states c) the difference between the products of the probability and the values in different states d) the difference between the s...

? Question 1 1 out of 1 points An oral auction Selected Answer: all of the above Answers: is also called an English auction is where bidders submit increasing bids until all but one remains is where the sole remaining bidder wins and pays his winning bid all of the above ? Question 2 1 out of 1 points An oral auction Selected Answer: is where bidders submit increasing bids until all but one remains Answers: is also called a Vickrey auction is where bidders submit increasing bids until...