The problem the agent faces when deciding how to keep the agent motivated is called
a. Adverse selection
b. Moral hazard
c. Both of the above
d. None of the above
b
Economics
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Preferences depend on
A) income but not relative prices. B) relative prices but not income. C) neither relative prices nor income. D) both relative prices and income.
Economics
Let the production function be q = ALaKb. Returns to scale are equal to
A) a ? b. B) a + b. C) La + Kb. D) A ? L.
Economics