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- For each STATEMENT, write out the word TRUE or FALSE andprovide a short explanation of your answer.give an example of an existing economic interaction that exhibits moral hazard. describe the setting and talk about efficiency considerations.What things do you consider when choosing whether to use communication or observation in your research?
- The principal of a school hires Daniel to teach eighth grade students. One goal the principal has is to prepare the students to do well on standardized tests, as he will be judged based on the results of those tests. Daniel prefers to teach in a more creative way, so the students learn a lot, but perform poorly on their standardized tests. This is an example of what problem? a. Adverse hazard b. Moral hazard c. Adverse selection d. Free-ridingWhat type of bias relies too heavily on one piece of information in making a final decision? A. Availability Heuristic Bias B. Bandwagon Effect C. Anchoring BiasAdverse selection is good ? like the The Affordable Care Act (Obamacare) deals with the problem of adverse selection by using the power of the government to fine individuals who do not sign up for health insurance. do you think it brings benefits or not ?
- Please see question bellow and 1st answer. Please help with the 2nd part of the question. What kind of incentives would help with the problem? The black rhino is one of the most endangered species on the planet. In southern Africa in 1970 there were 65,000 Black Rhinos. Now there are only 2,500. Basic economics tells us why they are in trouble and what we can try to do about it. Why do people kill the black rhino? Because they can make a lot of money relative to the risk of getting caught - just like drug trafficking and lying on your taxes. In Asian communities the horn is viewed as an aphrodisiac and a powerful pain reliever. In Yemen sabers are made from them. As a result one horn can fetch $30K on the black market. The average yearly income in southern Africa is $1,000 and falling. The black rhino is worth more dead than alive. This is a market that does not correct itself. Another piece of this, that is common to many environmental challenges, is that most black rhinos are…Briefly explain what is “signaling” (from an economist’s view) and how it may reduce adverse selection.You know that your cousin was responsible in breaking your neighbors window. Your neighbor is a struggling man and cannot afford to repair the window, so he is looking for the person responsible to repair it. You are confused whether to confess to your neighbor or keep pretending that you do not know. Which category of ethical dilemma does this situation come under? a. Societal b. International c. Professional d. Personal