One lesson that Akerlof's Lemons model provides is:
A. that for high quality providers to survive they must provide a way that customers can distinguish high quality from low quality.
B. low quality will not survive in a market.
C. moral hazard is unavoidable.
D. people always prefer high quality to low quality goods.
Answer: A
Economics
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A) $2,000 B) $800 C) $0 D) 600 umbrellas
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_____ transactions refer to the export and import of goods and services as well as any international earnings on investments, both public and private
a. Current account b. Capital account c. Official reserve account d. Savings account
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