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Econ 200 > Module 10 > Flashcards

Module 10 Flashcards

1
Q

A.C Pigou

A

How to deal with externalities

1) Taxes
2) Subsidies

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2
Q

Ronald Coase

A

Negotiation among parties to settle externalities

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3
Q

Asymmetric Information

A

Buyer/Seller knows something the other does not

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4
Q

Principal Agent problem

A

Occurs when one person is allowed to make decisions on behalf of another person

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5
Q

Moral hazard

A

Occurs when one individual has an incentive to increase their exposure to risk because they do not bear the full cost of that risk

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6
Q

Adverse selection

A

When there is unequal information between buyers and sellers leading to market failure

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7
Q

Fifth amendment takings clause

A

Prohibits the government from taking my property without compensation

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8
Q

Regulatory capture

A

The regulated starts to use the regulator to their advantage

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9
Q

Glass-Steagal Act (1934)

A

Separated stock market and banking

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Econ 200 (10 decks)

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