Examlex
President Erdogan in Turkey has used threats, changes to the constitution, and ______ to gain more power and ensure he will remain in power.
Credit Histories
Records that document an individual's or company's past borrowing and repaying behaviors, including information on late payments and bankruptcy.
Moral Hazard
The situation in which one party engages in risky behavior knowing that it is protected against the risk because another party will incur the cost.
Adverse Selection
A situation where asymmetric information leads to the selection of undesirable alternatives in transactions.
Efficient Outcomes
Situations in economics where resources are allocated in a way that maximizes the net benefit to society, meaning no individual can be made better off without making someone else worse off.
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