An most important service provided by underwriters is
A) lowering of information costs.
B) dealing with problems of moral hazard.
C) insuring firms against loss from fire.
D) insuring firms against loss from employee theft.
A
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What is the rationale for government provision of education?
a. Not all incomes are equal, but everyone has the right to education regardless of wealth. b. Potential students consider only their personal benefits gained from education, but the rest of society benefits, too. c. No education would be provided in the absence of government provision because everyone would consume it without paying. d. The cost of providing education for the entire public is too large. e. The government can provide education at a much lower cost than the private sector.
The Keynesian model does a sound job of explaining
a. many recessions and why cyclical unemployment rises and falls. b. many recessions but not why cyclical unemployment rises and falls. c. why cyclical unemployment rises and what causes inflation. d. what causes inflation and why cyclical unemployment rises and falls.