Refer to the scenario above. If Joseph prefers fairness to money, ________
A) he will not accept any offer made by Phillip
B) he will always accept any offer made to him
C) he will accept the offer if offered an equal share of the money
D) Phillip will offer the minimum amount of money to Joseph
C
Economics
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If the government increases unemployment benefits, then the equilibrium amount of employment ________ and potential GDP ________
A) increases; increases B) does not change; does not change C) increases; decreases D) decreases; decreases E) decreases; increases
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If a life insurance company offers coverage regardless of age, health status, or smoking history, it is likely to suffer
A) moral hazard problems. B) adverse selection problems. C) lower costs. D) low demand for its product.
Economics