Refer to Table 5.1. What is Hector's opportunity cost of producing one bracelet?

Two consequences of asymmetric information are adverse selection and moral hazard. An important distinction between the two is

A) adverse selection exists prior to the completion of a transaction while moral hazard occurs after the transaction is completed. B) moral hazard exists prior to the completion of a transaction while adverse selection occurs after the transaction is completed. C) moral hazard leads to an inefficient quantity while adverse selection leads to an efficient quantity. D) adverse selection leads to an inefficient quantity while moral hazard leads to an efficient quantity.

The longest expansion since records have been kept began in

A. March 1991. B. November 1982. C. July 1980. D. March 1975.