According to the World Bank, developing countries greatly outnumber industrial countries

Trade in services such as information technology

A) is like other trade, it creates winners and losers, but the gains for national economies likely outweigh the costs. B) creates gains for India's economy, but national welfare losses for the countries that import these services. C) make it highly likely that information technology jobs will ultimately disappear in the industrialized countries. D) is not perceived as threatening by industrialized countries so is unlikely to lead to any protectionist sentiment or pressures in the way the manufacturing does.

Suppose the refrigerator repairman charges you for two hours of labor even though he could have fixed it in ten minutes. This is an example of

a. natural selection b. moral hazard c. hidden actions d. external costs e. hidden characteristics