The lemons problem is a situation of
A) perfect competition.
B) asymmetric information.
C) price discrimination.
D) a natural monopoly.
Answer: B
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Which of the following actions did Congress take in the 1930s, in an effort to prevent future financial crises like the stock market crash of 1929?
A. Glass-Steagall Banking Act B. Bubble Act C. Hastings Banking Act D. Formation of the CBO (Congressional Budget Office)
An example of a government program aimed at reducing poverty that is universal is:
A. public education. B. Social Security. C. Medicare. D. All of these are universal programs.
Another way of saying "ceteris paribus" is:
A. Other things equal B. In general C. In reality D. Because of this
If a person willingly plays an unfair game that is not in his favor, he is risk loving
Indicate whether the statement is true or false