If nominal GDP in 2001 is $9 trillion, and 2001 real GDP in 1996 prices is $6 trillion, the GDP deflator price index is

In the presence of asymmetric information, a contingent contract

A) achieves production efficiency. B) can lead to opportunistic behavior on the part of the agent. C) is impossible to write. D) will result in the principal earning all of the profit.

Suppose you bought a concert ticket from Ticketmaster for $50, but when you get to the concert, there are a large number of people waiting outside who offer to pay you more than $50 for your ticket. What is probably true?

A. The Ticketmaster price is the equilibrium price. B. The Ticketmaster price was above the equilibrium price. C. There is an excess demand for tickets at the Ticketmaster price. D. There is an excess supply of tickets at the Ticketmaster price.