China's economic reforms have focused on
A) privatizing state-owned enterprises and increasing efficiency.
B) reducing persistent inflation and current account deficits.
C) transitioning from socialism and toward private ownership.
D) reducing exchange rate instability.
C
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The result of the Cutler-Reber study of different insurance plans was
A) increased moral hazard among the insured. B) increased adverse selection among the insured. C) asymmetric information was irrelevant among the insured. D) competition among the insured resulted in higher prices for insurance.
Which of the following attitudes will be held by a typical firm in a typical cartel?
A. If I alone cheat, I’m better off; if everyone cheats, I’m worse off. B. I can never do better for myself than by following agreed-upon cartel policies. C. If everyone cheats, I’m better off and so is everyone else in the cartel. D. If I suspect others are planning to cheat, I’ll do best for myself by deciding not to cheat.