In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:

Which of the following describes a moral hazard problem?

A) a process by which individuals have substantial resources devoted to the exchange process and need to make a profit or they will be adversely affected B) a process by which individual buyers or sellers with better information are more likely to participate in voluntary exchange C) a contractual problem that results because monopolies exist in all economies D) a post-contractual problem that may result because participants to the exchange process have information that allows them to act in an opportunistic manner

What was the largest and most important economic event of the 1900s?

a. The terrorist attacks of 9/11. b. Ronald Reagan's tax cuts. c. The Great Depression. d. The inflation of the 1970s.