Adverse selection and moral hazard are examples of:

A competitive equilibrium is Pareto efficient because at the competitive equilibrium,

A) prices have been allowed to adjust. B) there are no further gains from trade. C) the final outcome is different from the original inefficient endowment. D) all members of society can be made better off.

Income per person in the United States is approximately ____ that of Sierra Leone, Malawi, and Niger, three of the world's poorest countries

a. the same as b. double c. ten times d. fifty times