The Problem of Adverse Selection Was First Studied by Economist

question 41

Multiple Choice

The problem of adverse selection was first studied by economist ________ who showed how it can undermine the possibilities for trade in the market for _______.

• A) Joseph Stiglitz; used cars
• B) Joseph Stiglitz; college education
• C) George Akerloff; used cars
• D) George Akerloff; college education

---

Definitions:

Caregivers

Individuals who assist others with their daily activities and needs, often due to aging, illness, or disability.

Institutional Policies

Guidelines and rules created and enforced by organizations to regulate and direct actions and behaviors of their members.

Cognitive-behavioral Treatment

A therapeutic approach focused on altering negative emotions, behaviors, and cognitive processes to solve issues.

Alzheimer's Disease

A progressive neurological disorder that affects memory, thinking, and behavior.