In the late 1800s wildcat banks, which were easy to charter and largely unregulated, sprang up across
Question:
a. Explain how the variety of building types that sprung up can be attributed, at least in part, to the potential for moral hazard.
b. Explain how the building choices of bankers in late 1800s America illustrate the inherent wastefulness of signaling.
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Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
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