Which of the following could be written into an insurance contract in order to reduce the problem of moral hazard?
a. co-payments for repair services
b. deductibles for repair services
c. limitations on insurance coverage
d. All of the above are correct.
d
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U.S. imports of sugar are limited by an import quota that, according to a study updated in 2013, imposed a total cost on American consumers close to $________, or an average cost of ________ per year for every job saved in the U.S sugar industry
A) $3 billion; $10 B) $105 million; $3 C) $2 billion; $110 D) $3 billion; $1,000,000 E) $370 million; $20
A prisoner's dilemma is a game in which:
A. the players' payoffs are smaller when both play their dominant strategy compared to when both play a dominated strategy. B. neither player has a dominant strategy. C. the players' payoffs are larger when both play their dominant strategy compared to when both play a dominated strategy. D. one player has a dominant strategy and the other does not.