The Rapid Development of Internet Technologies During the 1990s Allowed

question 135

Multiple Choice

The rapid development of Internet technologies during the 1990s allowed businesses to produce goods and services more cheaply than before and also gave rise to completely new services. We would show this change in the AD/AS model by moving the short-run aggregate:

• A)demand curve right with little change in short-run aggregate supply.
• B)demand curve left with little change in short-run aggregate supply.
• C)supply curve down (to the right)with little change in aggregate demand.
• D)supply curve up with little change in aggregate demand.

Analyze the economic implications of information asymmetry in various markets.

Evaluate different strategies to mitigate issues arising from asymmetric information.

Recognize the role of government interventions in reducing information asymmetry.

Understand the rationale behind education as a signaling device in the labor market.

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Definitions:

Consent

Agreement or permission given voluntarily by a competent individual, fully informed of the risks and benefits.

Clear Benefits

Advantages or positive outcomes that are distinct and readily apparent.

Peter Singer

A philosopher best known for his work in bioethics and his advocacy for animal rights and utilitarianism.

Single Experiment

An investigative method in science where an isolated variable is tested to observe its effects under controlled conditions.