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mars1129 [50]
3 years ago
12

When Joe didn't have renter's insurance, he was very careful not to leave candles lit in his apartment and locked the door when

he left. Now that he has renter's insurance, he typically leaves candles burning all day and forgets to lock the door, because he knows that even if his apartment catches on fire or gets broken into, his insurance will cover it. Which of the following economic problems is characterized in the story? a) The free-rider problem b) Moral hazard c) Government failure d) Adverse selection
Social Studies
1 answer:
Slav-nsk [51]3 years ago
5 0

Answer:

Moral hazard

Explanation:

  • Moral hazard is a term used in economics that refers to the fact that one person <u>tends to increase his/her exposure to risks</u> when they are insured. Specially <u>when someone else will bear the cost of those risks.</u>
  • The free-rider problem refers to the situation where individuals are able to consume a good without paying for it.
  • Government failure is a term used in economics to refer to when the government intervenes in the economy to try to fix a problem but its intervention actually make things worse.
  • Adverse selection refers to when buyers and sellers have different information regarding one product and the risks this misinformation leads to.

In the example, we can see that <u>Joe was very careful when he didn't have a renter's insurance</u>. However, now that the situation has changed, <u>he leaves candles burning all day and forgets to lock the door because he knows that even if something happens, someone else will pay for it.</u>

Thus, this example has all the characteristics of a Moral Hazard.

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After watching Patrick and Sarah, compare how they react to their reflections in the mirrors. Does either seem to recognize him/
coldgirl [10]

Answer:

Patrick seems not to recognize himself by looking at himself in the mirror, however, Sarah can. Sarah was able to recognize herse, reach up and was able to get rid of the rouge on her nose. Sarah recognizes herself and have an idea of what she expects herself to look like. Sarah is 9 months older and due to this, she has had experience with care givers and have also had an interaction with her environment that enables her to have such unique character. Infants learn from caregivers because they are capable of letting them know their identity and uniqueness.

Explanation:

Patrick apparently tends to see the image in the mirror and tries to make an effort to touch or reach out to it, however he does not reach up to put away the rouge from his nose. To be candid, there is not anything about his behavior that tells us that he certainly recognizes himself. We can imply that Patrick probably didn't touch himself because he felt it was another child. Sarah seems to gaze at her reflection which is unlike Patrick. She pays attention to her fingers and then getss up to rub the red spot on her nose. Clearly, Sarah's behavior indicates that she recognizes herself and that what she sees in the mirror is not what she expects. Being nine months older than Patrick, Sarah has had a ton of experiences with caregivers and objects in the environment that call attention to her own uniqueness. Take cognizance of some examples of varying circumstances between infant and caregiver that a person might be capable of teaching the infant about his or her identity and uniqueness.

8 0
3 years ago
9. Use the following image to answer the question:
Klio2033 [76]

Answer:

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Explanation:

6 0
3 years ago
What proposed changes were made to boost the chinese economy that caused mao to launch the oppressive?
trapecia [35]

The proposed changes to boost the Chinese economy that caused Mao to launch the oppressive Cultural Revolution included allowing workers to compete for wages, capitalist reforms that Mao viewed as anti-Communist, and to allow farmers to sell their excess crops.

The Cultural Revolution was launched by the Chinese Communist Party Chairman Mao Zedong to reinvigorate the spirit of the Chinese Revolution.

In the 1960s, Mao was worried that China would adopt the Soviet model which he felt was a betrayal of the Russian Revolution. He was also concerned with his diminishing role in the government.

He felt that the economic policies adopted by his colleagues to revive the Chinese economy after the failed Great Leap Forward policy were against the spirit of the revolution. These included reforms on worker’s wages and sale of agricultural produce.

To learn more about the Cultural Revolution: brainly.com/question/10693549

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1 year ago
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8 0
3 years ago
The ________ is established by the Constitution and cannot be abolished by a congressional law. Group of answer choices Supreme
Makovka662 [10]

The Court that is established by the Constitution and so cannot be abolished by Congressional law is the<u> Supreme Court </u>

The U.S. Constitution:

  • Established the Supreme Court.
  • Gave Congress the power to create federal courts that are below the Supreme Court.

This means that Congress can abolish every other federal court apart from the Supreme Court because they created it but they cannot abolish the Supreme Court unless an amendment to the Constitution was made.

In conclusion, the answer is the Supreme Court.

Find out more about the creation of the Supreme Court at brainly.com/question/932365.

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2 years ago
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