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Answer:
They should be planned for.
Explanation:
Unexpected expenses include emergencies and other unforeseen costs that a person incurs in day to day activities. These unexpected expenses must be paid for, which means resources must come from somewhere to effect the payments.
The best way to cater to unexpected expenses is to include them in the budget. Contingencies is the term used to describe funds kept aside to settle unexpected expenses. Without a contingency arrangement, unexpected expenses will affect the budget and a person's ability to pay normal bills.
Answer:
1) Structure rewards/pay to be based on performance
2)Make them stakeholders/shareholders of the principal
Explanation:
The major principal/agent problem is the agent not acting in the best interest of the principal. Taking the steps above could minimize the problem
Answer:
b. $10 per hour.
Explanation:
Joab wants to travel to Tacoma, Washington to climb Mt. Rainier and is trying to decide if he should drive or fly to the location. The flight to Washington would cost $500 and take 7 hours. Also if he flies, he would need to rent a car at an additional total cost of $300 (including gas) and drive an additional 3 hours total between the airport and the mountain. If Joab were to drive his Honda Civic from Tallahassee out to Mt. Rainier, the trip would take 50 hours and cost him $400. Other things constant, Joab would choose the flight plus rental car option if and only if the value of his time is at least $10 per hour.
