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A) With asymmetric information, free markets may not lead to efficient outcomes because the market for a service or product may break down due to adverse selection. Explain what adverse selection is and why it might lead to market break down? Under what conditions is a market breakdown more likely?
Venture capitalists look for inventors with good ideas but venture capitalists may not be able to judge the quality of an idea as well as the inventor. Provide some ideas on how venture capitalists can separate inventors with good ideas from those with bad ideas.
Explain why you expect your idea to work?
B) In the second part of your essay, pick a market for a service or a product with asymmetric information. Explain the nature of asymmetric information and how the market is organized to alleviate the problem. Discuss whether the asymmetric information is overcome or not.
How central bank increases the target rate Let's say that the central bank increases the target rate. When the target rate increases, the central bank needs to raise the overni
2. Given the following information: Consumers are very optimistic about the future. The price of oil has just doubled. The money supply is growing at a 6% rate. The government has
Q. Central bank overnight interest rate? Overnight interest rate is a significant interest rate for a central bank and it has methods of influencing this rate. In most nations,
If equilibrium price falls and the equilibrium quantity of the good purchased decreases, what has happened to either the supply curve or to the demand curve? a. Demand decreased
Explain clearly the liquidity preference theory of interest propounded by j.m.keynes
What is the difference between 'quantity supplied' and 'supply'? There is a distinction among supply and quantity supplied. Supply explains the behavior of sellers at every pr
In the late 1990s, a growing number of economists expressed concern that the world policy makers were often focusing too much on fighting inflation, without fully taking into accou
Consider the market for the trusty widget (the most common good in the world if economics textbooks are to be believed). Assume that the market is perfectly competitive. Suppose th
Historically, the proportion of students entering a university who finished in 4 years or less was 64%. To test whether this proportion has decreased, 122 students were examined an
The city of Cabernet is very famous for its production of wine. The inhabitants of the city have an aggregate demand for wine that can be described as follows: D(p) = Q d =150-
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