Lemon laws are an attempt to reduce __________ in used car markets
a. symmetrical information
b. adverse selection
c. natural selection
d. moral hazard
e. the winner's curse
B
Economics
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Why is it that only a small percentage of American firms are incorporated?
a. Corporate debt as stockholder's liability. b. Small size of firms. c. Unlimited liability. d. Inability to outlast associated individuals.
Economics
Government policies can change the costs and benefits that people face. Those policies have the potential to
a. alter people's behavior. b. alter people's decisions at the margin. c. produce results that policymakers did not intend. d. All of the above are correct.
Economics