A 2 percent increase in the price of neckties leads to a 5 percent decrease in the quantity demanded of neckties. The absolute price elasticity of demand is

What is a gold standard?

What will be an ideal response?

_____ refers to actions that one party in a transaction takes based on his private information and that affect the payoff to the other party

A) Negative externalities B) Moral hazard C) Positive externalities D) Bargaining