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Econ chapter 5

Quiz by Deleon Angel

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6 questions
Show answers
  • Q1
    What was Akerlof’s analogy that he used to describe good and bad products?
    Cars
    Peaches and lemons
    Grapes
    Mr. Anderson
    20s
  • Q2
    What did Spence try to figure out?
    Nothing
    How the informed side could relay their credibility.
    How credible someone can be
    20s
  • Q3
    What did Stiglitz try to figure out?
    How the uninformed side could uncover the information they needed
    Nothing
    20s
  • Q4
    What is a moral hazard
    the concept is simple if you compensate people when bad things happen to them they may get careless
    A sign on the road
    A hazard that is moral
    The concept of a person being to much of a liability
    20s
  • Q5
    What is keyhole economics
    Economist often advocate a strategy when trying to fix a policy problem target the problem as closely as possible rather than attempting something a little more drastic.
    Keyhole surgery techniques allow surgeons to operate without making large incisions minimizing the risk of complications and side effects.
    A way of fixing a problem by destroying something else
    A keyhole in economics
    20s
  • Q6
    What is the problem with NHS
    It gets overcrowded with patients
    The
    20s

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