Moral hazard occurs when the parties on once side of the market, who have information not known to others, self select in a way that adversely affects the parties on the other side of the market

Which of the following individuals is responsible for developing the life cycle theory of consumption?

A) Friedman B) Modigliani C) Keynes D) Lucas

Compared to other industrial nations, inflation rates in the United States are:

A. significantly higher. B. significantly lower. C. significantly higher than those in Europe and significantly lower than those in Japan. D. neither significantly higher nor significantly lower.