Comparative advantage occurs when a person or a country can produce a good or service at a lower ____ than others.

Collusion occurs when

A) there is an agreement among firms to charge the same price or otherwise not to compete. B) firms refuse to follow their price leaders. C) a firm chooses a level of output to maximize its own profit. D) two firms' price and output decisions come into conflict.

By rescuing large, troubled institutions, as happened during the 2007-2009 financial crisis and recession with institutions like AIG and General Motors, policymakers attempted to achieve financial and economic stability in the short run, but their

actions may encourage even riskier behavior on the part of these large institutions in the future if these institutions believe that they, too, will be bailed out if they get in trouble. This risk faced by policymakers is known as A) asymmetric information. B) quantitative easing. C) too-big-to-fail policy. D) moral hazard.