Economists refer to the problem that exists when public property is treated poorly because it is in no one's private interest to protect it as the

A difference between moral hazard and adverse selection is that

a. moral hazard deals with pre-contractually determined public information b. moral hazard deals with post-contractually determined private information c. adverse selection deals with pre-contractually determined private information d. adverse selection deals with post-contractually determined public information

In the circular flow model, money flows from the business sector to the household sector through the:

a. product market. b. capital market. c. goods market. d. services market. e. resource market.