Which of the Following Is a Government Response to Asymmetric

question 184

Multiple Choice

Which of the following is a government response to asymmetric information?

• A) Product guarantees
• B) External product certification
• C) Manufacturer's warranties
• D) Government licensing

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee's name on it.

Unconditional Promise

A pledge or commitment that does not depend on any conditions or stipulations for its fulfillment.

Pay

The remuneration or salary provided to an individual in exchange for their labor or services.

Cash Substitute

Forms of payment other than traditional cash, such as credit cards, debit cards, or electronic transfers, that are used as alternatives to cash.