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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

For each of the following kinds of insurance, give an example of behavior that can be called moral hazard and another example of behavior that can be called adverse selection.

a. health insurance

b. car insurance

c. life insurance

Subpart (a):

To determine

Example of moral hazards and adverse selections

Explanation

Heath insurance: In the case of health insurance, an unhealthy person applying for a health insurance policy is an example of adverse selection because here the possibility ...

Subpart (b):

To determine

Examples of moral hazards and adverse selection.

Subpart (c):

To determine

Example of moral hazard.

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