If in the short run the demand for mass transit is relatively inelastic and in the long run the demand is relatively elastic, then a price ________ will ________ total revenue in the short run but ________ total revenue in the long run.

Insurance companies try to avoid adverse selection and moral hazard problems through all of the following methods except one. Which is the exception?

a. offering group policies b. requiring lengthy application forms c. requiring physical examinations d. setting uniform premiums (i.e., prices of insurance policies) for all policies e. requiring policyholders to pay a deductible

Which of the following lists gives world exports in the order of their value, from highest to lowest?

a. Aircraft, motor vehicle parts, crude petroleum b. Aircraft, crude petroleum, motor vehicle parts c. Crude petroleum, office and telecom equipments, automotive parts d. Motor vehicle parts, aircraft, crude petroleum e. Motor vehicle parts, crude petroleum, aircraft