In an open economy, the price of a bushel of corn is ________. 

Which of the following is a fixed percentage of the value of an imported product?

A) specific tariff B) ad valorem tariff C) nominal tariff D) effective protection tariff E) infant industry tariff

Adverse selection is more likely when

a. a job requires specific training b. a job requires intangible or unmeasurable abilities c. the wage offered is above the average of all wages in the market d. the wage is based on true marginal revenue products e. performance can be monitored closely