Mention some of the ways in which the problem of asymmetric information can be reduced
The problem of asymmetric information can be reduced if:
a) there is a standardized report on the credibility of a seller.
b) if the seller offers a warranty that covers the cost of repairs.
c) the seller is experienced and has a good reputation.
You might also like to view...
Automatic stabilizers include
A) changes in induced taxes and changes in needs-tested spending. B) increases or decreases of tax rates and changes in needs-tested spending. C) changes in induced taxes and changes in discretionary spending. D) changes in discretionary spending and changes in needs-tested spending. E) changes in the federal funds interest rate brought about by Fed policy.
A monopoly sets its price such that demand for the good produced is ______
A. unit elastic B. inelastic C. elastic D. either elastic or inelastic, but never unit elastic
Lower inflation rates are usually correlated with lower unemployment rates.
Answer the following statement true (T) or false (F)
How do doctors add to rising health care costs?
What will be an ideal response?