Refer to the information provided in Figure 2.3 below to answer the question(s) that follow.Figure 2.3Refer to Figure 2.3. Assume that in this society the opportunity cost of sailboats in terms of surfboards is increasing. A graph of this society's production possibility frontier will be represented by Panel

When someone contracts to do a task but fails to put full effort into the performance of an agreement, yet the lack of effort is not independently verifiable, this lack of effort constitutes a

a. breach of contractual obligations b. denial of good guarantee c. loss of reputation d. moral hazard

Usury laws that set maximum interest rates

a. are designed to protect the consumer. b. interfere with the market allocation process. c. have an effect only if the market rate is higher than the legal maximum. d. All of the above are correct.