Which of the Following Web Sites Can You Consult to Obtain

question 22

Multiple Choice

Which of the following web sites can you consult to obtain information about an application for an Employer Identification Number?

• A) "http://www.irs.gov/publications"
• B) "http://www.ada.org"
• C) "http://www.gov.org"

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Definitions:

Marginal Utility

The additional satisfaction or benefit received from consuming one more unit of a product or service.

Asymmetric Information

One of the parties to a transaction has information relevant to the transaction that the other party does not have.

Adverse Selection

A situation in which asymmetric information results in high-quality goods or high-quality consumers being squeezed out of transactions because they cannot demonstrate the quality of the product they are offering for sale.

Fair Bet

A wager in which the expected value to both parties involved is equal; no side has an advantage.