Recall the Application about the role of megacities in economic growth to answer the following question(s).According to the Application, who recognized that specialization of labor can generate higher productivity?

Because of asymmetric information, most used cars that are offered for sale will be sold for prices that are greater than their true value. Because of this fact, the used car market falls victim to

A) the free-rider problem. B) adverse selection. C) deadweight loss and economic inefficiency. D) a surplus of used cars.

All else constant, if the central bank wants to slow the pace at which the economy is expanding, it should increase interest rates

Indicate whether the statement is true or false