What is the term that describes a situation in which one party to an economic transaction has less information than the other party?

The Commodity Credit Corporation provides loans to farmers based on expected sales

a. at rates of interest scaled to the farmer's profits b. that need not be repaid at all if the farmer suffers a loss c. that must be used for seed, expansion of land, or new farm equipment d. that can be repaid with sales revenue or with an unsold supply of farm goods e. at prime market rates

Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. If Bob does NOT confess, what is the best strategy for Harry?

A. Confess. B. Don't confess. C. Flip a coin to decide what to do. D. There is no best strategy.