An example of moral hazard is
a. A taxi driver paid per mile taking the shortest route
b. a piece-rate garment worker shirking more than a per jour worker
c. an hourly salesman working less hard than a commission salesman
d. an author on contract going to as many book signings as one with a percentage royalty rate
c
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Imports are defined as the goods and services that we
A) partially produce in both the United States and another country. B) produce and consume in the United States. C) produce abroad using U.S. owned factories and then consume in the United States. D) buy from other countries. E) sell to other countries.
In the above figure, if the firm is in monopolistic competition, its price will be
A) $1. B) $2. C) $3. D) $4.
Government spending shrank the most in _____ relative to GDP between 1997 and 2016
a. Canada b. Australia c. Germany d. Spain e. the U.K.
As the price level falls
a. people are more willing to lend, so interest rates rise. b. people are more willing to lend, so interest rates fall. c. people are less willing to lend, so interest rates fall. d. people are less willing to lend, so interest rates rise.