Which of the following is an example of moral hazard?
a. a driver is arrested for drunk driving
b. a pet-sitter being paid to walk a dog for one hour per day only walks the dog for 20 minutes per day
c. a thief steals a car
d. All of the above are examples of moral hazard.
b
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Refer to Figure 9-2. With the tariff in place, the United States produces
A) 9 million pounds of rice. B) 15 million pounds of rice. C) 31 million pounds of rice. D) 42 million pounds of rice.
Graph of the relationship between the prices in the supply schedule and the quantity supplied at those prices
What will be an ideal response?
When the unemployment rate is low, we would expect that
A) the probability of losing a job is high. B) the probability of losing a job is low. C) the probability an unemployed individual will find another job is low. D) the separation rate will increase.
Refer to the accompanying table. Julia's opportunity cost of making a cake is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 6/5 of a cake. B. 60 cakes. C. 5/6 of a cake. D. 6 cakes.