Adverse selection is a situation in which asymmetric information results in low-quality goods or low-quality consumers being squeezed out of transactions because they are unable to demonstrate their quality.
Answer the following statement true (T) or false (F)
False
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When a recessionary gap exists, actual output ________ potential output and the rate of inflation will tend to ________.
A. is less than; decrease B. is less than; increase C. exceeds; increase D. exceeds; decrease
_________ percent of Americans have different residences than they did the year before.
A. 30 B. 15 C. 9 D. 22
________ is the process of putting ideas or thoughts into symbolic form
a. Sourcing b. Encoding c. Decoding d. Sending
The government of a country decides to reduce fiscal spending on national defense. The resulting economic change will be represented by a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.