An extremely severe recession is known as a

The use of incentive payments for salespeople combats

A) both adverse selection and moral hazard. B) neither adverse selection nor moral hazard. C) adverse selection but not moral hazard. D) moral hazard but not adverse selection.

All of the following are cited as potential explanations for the decrease in demand for Kleenex-brand facial tissues except:

A) consumers switching to substitute products. B) market entry by lower-priced private brands. C) the failure of the producer of Kleenex tissues to develop any new and innovative products.