第八章
___________, which describes a situation where market participation is affected by asymmetric information, affects the ability of markets to allocate credit by prices because it removes the lower-risk borrowers from the set of potential borrower. ( )
答案:Adverse selectionThe effect of asymmetric information can be seen clearly in “___________”, which is proposed and illustrated by the economist . ( )
答案:the Market for Lemons
___________ refers to the tendency to change one’s behavior, for example, to take more risks, because someone else bears the cost of those risks. ( )
答案:Moral hazard
The credit scoring model for small businesses is based on _________ , just like the credit scoring for the issue of a credit card with simple procedures. ( )
答案:consumer loans
Credit scoring is more _________ than human loan officers. It eliminates variations in risk assessment among loan officers, and by a single officer over time. ( )
答案:objective
Different industries have different standards to define small businesses.（ ）
答案:对
The problem of asymmetrical information arises because buyers and sellers don’t have equal amounts of information required to make an informed decision regarding a transaction.（ ）
答案:对
Akerlof suggested that the problem of adverse selection distorted the market, leading to higher prices but lower average quality of the goods. （ ）
答案:错
Moral hazard occurs prior to a deal between a buyer and a seller, while adverse selection may appear after the deal is made. （ ）
答案:错
In small business lending, adverse selection arises from the bank’s inability to distinguish between high-risk and low-risk borrowers. （ ）
答案:对
