The delegation problem where the principal cannot observe the agent’s type (preferences, motivations, or skills) is known as:
A. moral hazard
B. linkage problem
C. adverse selection
C. adverse selection
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According to Justice Douglas, in Griswold v. Connecticut, the Bill of Rights
a. should be read literally. b. is not applicable to the states. c. includes guarantees that have penumbras. d. is all of the above.
With budget surpluses emerging in the late 1990s, politicians
A) proposed tax cuts. B) proposed tax hikes. C) proposed greater government spending on infrastructure. D) proposed increasing business taxes. E) proposed shifting the tax burden.
In the 20th century, American foreign policy changed to one of ______.
a. isolationism b. internationalism c. absolutism d. socialism
__________ grants typically allocate federal dollars based on population
a. Block b. Formula c. Commerce d. Diversified