________ occurs when one agent in a transaction knows about a hidden characteristic of a good
A) The free-rider problem
B) The tragedy of the commons
C) Adverse selection
D) Moral hazard
C
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The Keynesian range of the aggregate supply curve is the portion where:
a. The average price level and real GDP do not change with movements in aggregate demand. b. Real GDP does not change with movements of aggregate demand, but the average price level does change. c. The average price level does not change with movements of aggregate demand, but real GDP does. d. The average price level and real GDP change with movements in aggregate demand.
In general, a nation can enjoy a higher standard of living by ________ than by being self sufficient.
A. increasing its versatility B. taxing imported goods C. avoiding trade with other nations D. specialization and trading
The claims of nonowners of a bank against the bank's assets are called:
A. net worth. B. liabilities. C. required reserves. D. loans.
A change in the discount rate changes the size of the money multiplier.
Answer the following statement true (T) or false (F)