________ occurs when one party takes advantage of having more information than another party about the attributes of the good or service they will exchange
A) A negative externality B) Adverse selection
C) A transaction cost D) Moral hazard
B
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Applied to any investment, the phrase "there's no such thing as a free lunch" means that higher returns come with lower risks, and lower returns come with higher risks.
Answer the following statement true (T) or false (F)
Which of the following is NOT a determinant of demand?
A) consumers' incomes B) prices of other goods C) consumers' tastes D) production technology
Which of the following would not explain why academic economists earn less than corporate economists?
a. more freedom in daily schedules b. less restrictions on attire c. less freedom in choice of research topics d. less control over their public statements e. None of the answers is correct.
If the level of aggregate real Gross Domestic Product (GDP) remains constant, a reduction in the population
A. directly increases per capita real GDP. B. has no effect on real per capita real GDP. C. directly reduces per capita real GDP. D. indirectly reduces per capita real GDP.