What is the term that describes a situation in which one party to an economic transaction has less information than the other party?
A) monopsony B) asymmetric information
C) inefficient market hypothesis D) unequal market structure
B
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When the price of, say, a package of rice changes, what must the BLS do next?
A) immediately incorporate the new price into the CPI B) determine if the new price is consistent with other price changes for the period C) determine if the size, quality, weight, or packing of the rice has changed and adjust the price accordingly D) ignore the price change E) immediately incorporate the new price into the CPI only if the price has fallen
Price will be higher and output will be lower under monopoly than under perfect competition with the same demand and cost conditions
Indicate whether the statement is true or false
Which of the following are NOT contractual savings institutions?
A) life insurance companies B) credit unions C) pension funds D) state and local government retirement funds
Private placements avoid
A) restrictive agreements. B) SEC registration costs. C) the need for collateral. D) the primary market.