Why is the use of theory and observation more difficult in economics than in sciences such as physics?
a) It is difficult to evaluate an economic experiment.
b) It is difficult to devise an economic experiment.
c) It is difficult to actually perform an experiment in an economic system.
d) It is difficult to collect sufficient data.
Ans: c) It is difficult to actually perform an experiment in an economic system.
Economics
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If banks face a problem in loan markets when bad credit risks are the ones most likely to seek bank loans, it is described as
A) moral hazard. B) moral suasion. C) adverse selection. D) fraud.
Economics
No currency ever appreciated or depreciated under the Bretton Woods system as it was based on a system of fixed exchange rates
a. True b. False Indicate whether the statement is true or false
Economics