The presence of adverse selection:
A. increases the efficiency of markets.
B. reduces the efficiency of markets.
C. makes the buyer less efficient and the seller more efficient.
D. does not affect the efficiency of markets.
Answer: B
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The inflation rate between last year and this year was 14 percent. The CPI was 118 this year. What was the CPI last year?
A) 104.0 B) 103.5 C) 104.5 D) 105.0 E) 103.0
What condition must be satisfied so that society is producing the efficient mix of output? Why does this condition guarantee efficiency?
What will be an ideal response?
Paul Volcker was appointed to head the Federal Reserve System by ________
A) Richard Nixon in 1969 B) Jimmy Carter in 1979 C) Ronald Reagan in 1992 D) Barack Obama in 2009
The requirement that firms doing business with the federal government set numerical hiring, promotion, and training goals to reduce discrimination was
a. included in the Civil Rights Act of 1964 b. signed by President Johnson c. first proposed in the Nixon administration d. first proposed in the Carter administration e. first proposed in the Equal Rights Amendment