Aborrowerwhotakesoutaloanusuallyhasbetterinformationaboutthepotentialreturnsandriskoftheinvestmentprojectsheplanstoundertakethandoesthelender.Thisinequalityofinformationiscalled
A. moralhazard.
B. asymmetricinformation.
C. noncollateralizedrisk.
D. adverseselection.
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Ifbadcreditrisksaretheoneswhomostactivelyseekloansand,therefore,receivethemfromfinancialintermediaries,thenfinancialintermediariesfacetheproblemof
A. moralhazard.
B. adverseselection.
C. free-riding.
D. costlystateverification.
Theproblemcreatedbyasymmetricinformationbeforethetransactionoccursiscalled_____,whiletheproblemcreatedafterthetransactionoccursiscalled_____.
A. adverseselection;moralhazard
B. moralhazard;adverseselection
C. costlystateverification;free-riding
D. free-riding;costlystateverification
Someoftheproblemsthatcausefinancialrepressionindevelopingandtransitioneconomiesinclude
A. poorlegalsystems.
B. strongaccountingstandards.
C. privateownershipofbanks.
D. excessivegovernmentregulation.
Financialcrises
A. aremajordisruptionsinfinancialmarketsthatarecharacterizedbysharpdeclinesinassetpricesandthefailuresofmanyfinancialandnonfinancialfirms.
B. occurwhenadverseselectionandmoralhazardproblemsinfinancialmarketsbecomemoresignificant.
C. frequentlyleadtosharpcontractionsineconomicactivity.
D. alloftheabove.
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