What is "asymmetric information"?
What will be an ideal response?
A market situation in which one party in a transaction possesses more complete information than another party.
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Which of the following is a transfer payment?
a. The federal government's budget deficit b. Unemployment compensation payments c. Military spending d. Wages of government employees e. The excise tax on gasoline
In which cases were tax cuts followed by robust growth?
a. the ones of the Kennedy administration in 1964 and the ones of the Reagan administration in 1981 b. the ones of the Kennedy administration in 1964 but not the ones of the Reagan administration in 1981 c. the ones of the Reagan administration in 1981 but not the ones of the Kennedy administration in 1964 d. neither the ones of the Kennedy administration in 1964 nor the ones of the Reagan administration in 1981