Adverse selection:
A. usually causes prices to adjust faster than they otherwise would.
B. results in fewer market transactions.
C. increases the efficiency of most markets.
D. makes it easier for all customers to find what they want.
Answer: B
Economics
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If the price of a Swiss franc is $0.60, the price of a dollar is __________ Swiss francs
A) 0.40 B) 1.40 C) 1.67 D) 6.0
Economics
If a variable input is added to some fixed input, beyond some point the resulting extra output will decline. This statement describes:
A. the law of diminishing returns. B. the law of diminishing marginal utility. C. economies and diseconomies of scale. D. X-inefficiency.
Economics