When a physician knows more about alternative treatments than her patients, we say that _______ exists
a. rational ignorance.
b. perfect information.
c. asymmetric information.
d. moral hazard.
e. adverse selection.
C
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On a balance sheet, short-term debts such as accounts payable are listed as
A) current liabilities. B) stockholder's equity. C) goodwill. D) current assets.
A central bank can bring output back up to efficient level in the New Keynesian model by
A) decreasing the money supply. B) increasing the money supply. C) decreasing government expenses. D) increasing government expenses.
By 2000, the percentage of U.S. adults with a college diploma was _____
a. 18.7 percent b. 21.3 percent c. 25.6 percent d. 29.9 percent
The International Space Station is a joint project of the United States, Russia, Japan, Canada and the European Union. This suggests that _____
a. if the space station is a public good then the optimal size of the sharing group is larger than one country b. each country would have been unable to raise the money to pay for the space station on their own c. there are significant negative externalities involved that should be spread over more individuals d. Australians do not value space exploration