When one party to a transaction knows more than the other, ________ is said to exist

A person who is a __________ prefers a fair gamble to a certain outcome.

Fill in the blank(s) with the appropriate word(s).

The Mayor of Stuckeyville is considering increasing the tax on bowling. He is confident that tax revenues will increase but recognizes the possibility that they may decrease. The mayor is engaging in

A) dynamic tax analysis. B) static tax analysis. C) a policy that will cause the tax base to increase. D) a policy that will cause the tax base to remain unchanged.