Which of the following will not reduce the likelihood of a principal-agent problem when getting your car repaired?
a. asking to see the replaced parts
b. staying to watch the repair being done
c. gathering information on car repair
d. not paying until after the repair job is finished
e. persuading the mechanic you know a lot about cars
D
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Refer to the above figures. Which panel(s) represent the effect of an increase in the price level?
A) Panel A only B) Panels A and C only C) Panel D only D) none of the panels
Which of the following is an accurate statement of the difference between the individual demand curve and the individual supply curve?
a. The demand curve slopes upward from left to right; the supply curve slope downward from left to right.
b. The demand curve slopes downward from left to right; the supply curve slopes upward from left to right.
c. The demand curve can be shifted by technology variables; the supply curve can be shifted by income variables.
d. The demand curve can be shifted by price variables; the supply curve can be shifted by taste variables.