Many universities have either a top football program OR a top basketball program. Very few have both. These results suggest the presence of

The quantity theory of money predicts that, in the long run, inflation results from the

A) velocity of money growing at a faster rate than real GDP. B) velocity of money growing at a lower rate than real GDP. C) money supply growing at a lower rate than real GDP. D) money supply growing at a faster rate than real GDP.

If a fire insurance company requires firms buying fire insurance to install automatic sprinkler systems, the insurance company is trying to reduce

A) the problem of adverse selection. B) the moral hazard problem. C) sunk costs. D) asymmetric information.