Auto insurance rates are lower for young women relative to young men. An unusually reckless young woman driver benefits from this
A) statistical discrimination.
B) signal.
C) screening.
D) majority voting.
A
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Suppose that in October the price of a cup of cafe latte was $2.50 and 400 lattes were consumed. In November the price of a latte was $2.00 and 300 lattes were consumed. What might have caused this change?
A) The price of tea (a substitute for cafe lattes) rose. B) The price of tea (a substitute for cafe lattes) fell. C) The price of coffee beans (an input of production of cafe lattes) rose. D) The price of coffee beans (an input of production of cafe lattes) fell.
How are the fundamental economic questions answered in a market economy?
A) Large corporations alone decide the answers. B) Households and firms interact in markets to decide the answers to these questions. C) Individuals, firms, and the government interact in markets to decide the answers to these questions. D) The government alone decides the answers.