How do deductibles affect moral hazard?
What will be an ideal response?
Moral hazard refers to the concept that policyholders engage in behavior that will be to the detriment of the insurance company, in that the behavior will lead to a higher (expected) payout by the insurer. If the policyholder must pay a deductible he or she will be also financially responsible for his or her actions.
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Which of the following would best summarize Taylor’s four principles of scientific management.
Which one of the following organizational qualities is least valuable in determining who should participate in a pay survey?
(a) major employers (b) organization that appears to attract surveying organization's employees (c) organizations that have many similar kinds of jobs (d) including the organization recognized as the lowest payer in the labor market area