The term queue "discipline" describes the
A) degree to which members of the queue renege.
B) sequence in which members of the queue arrived.
C) degree to which members of the queue are orderly and quiet.
D) sequence in which members of the queue are serviced.
E) All of the above
D
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While Akerlof described adverse selection in the used car market, can you think of how adverse selection might arise in the labor market? Or even in dating?
Which of the following is the best example of a warning defect?
A. The Ford Pinto's gas tank was aligned in such a way as to greatly increase the chances of a fire in the event that the car was rear-ended by another car. B. The instructions for taking a heart medication drug did not say anything about studies that showed the drug increased the chances of a heart attack by 30%. C. Storm was injured when she tried to climb up a bookshelf to retrieve her purse that had been placed on top of the bookshelf by some meddling kids. D. A machine at the Sanchez Company's factory malfunctioned and this caused several of its products to be incorrectly assembled.