Immediately following the Revolution, in the 1780s,:
a. indigo was the most important U.S. export (in terms of dollar value).
b. Spain placed severe restrictions on trade between its colonies and the U.S.
c. the U.S. became the main provider of shipping services for the French and West Indies.
d. Great Britain eliminated tariffs on rice and tobacco.
b. Spain placed severe restrictions on trade between its colonies and the U.S.
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Shaniq can spend the next hour studying for a finance test, hiking along the Oregon coast, watching reruns of Lost on television, or napping
If she decides to study, what is the opportunity cost of her choice: hiking, watching television, or napping?
The problem created by asymmetric information before the transaction occurs is called ________, while the problem created after the transaction occurs is called ________
A) adverse selection; moral hazard B) moral hazard; adverse selection C) costly state verification; free-riding D) free-riding; costly state verification