If a "certificate of convenience and public necessity" protects a monopolist's position, the barrier to entry this firm relies on is called

The terms of trade (TOT) is defined as

A) (index of export prices)/(index of import prices). B) (home-country currency)/(foreign-country currency). C) . D) E) having a competitive advantage over other nations.

When applying for a loan, a borrower tends to know more about her ability to pay it back than does the bank. This is an example of

a. perfect information b. moral hazard c. a low marginal benefit of information for the bank d. asymmetric information e. optimal search