Which of the following would be an example of a transaction later regretted because it was made with incomplete information?
A. Tim bought products from a seller that knew they were defective.
B. Larry moved to a new apartment but later decided it was too small for his needs.
C. Sue purchased a lottery ticket that did not win her any money.
D. All of these are good examples of incomplete information.
Answer: A
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The gold standard is an example of
A) the Bretton Woods System. B) a floating exchange rate system. C) a managed float exchange rate system. D) a flexible exchange rate system. E) a fixed exchange rate system.
Both sugar and fructose can be used in the production of candy. If the price of sugar increases,
a. the demand for sugar increases b. sugar becomes relatively more expensive than fructose only if the price of fructose falls c. sugar becomes relatively more expensive than fructose, other things constant d. the price of fructose immediately increases e. the price of fructose immediately decreases