One result of asymmetric information in the market for used cars is that buyers benefit at the expense of sellers

a. True
b. False

B

Economics

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If the social costs of refining oil are greater than the private costs of oil refining, then

A) the external costs of oil refining are greater than the social costs of oil refining. B) users of products that use refined oil are paying too much for the products. C) there is too much oil refining. D) the amount of oil refining needs to increase in order to bring social costs and private costs in line with each other.

Economics

A union shop is a

A) strike by a union in sympathy with another union's strike or cause. B) dispute involving two or more unions over which should have control of a particular jurisdiction. C) business enterprise in which employees must belong to the union before they can be hired and must remain in the union after they are hired. D) business which may hire nonunion members conditional on their joining the union by some specified date after employment begins.

Economics