What is the term that describes a situation in which one party to an economic transaction has less information than the other party?
A) monopsony B) asymmetric information
C) inefficient market hypothesis D) unequal market structure
B
Economics
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Assume we have a simplified banking system in balance-sheet equilibrium. Also assume that all banks are subject to a uniform 10 percent reserve requirement and demand deposits are the only form of money. A commercial bank receiving a new demand deposit of $100 would be able to extend new loans in the amount of
A. $10.
B. $90.
C. $100.
D. $1,000.
Economics
The elasticity which shows the responsiveness of the demand for a good due to changes in the price of a related good is the:
A. income elasticity. B. log-linear elasticity. C. own price elasticity. D. cross-price elasticity.
Economics