Multiple Choice
Scenario: Edward has inherited a house. As the house is far away from where he lives currently, it has been vacant for the past few years. A housekeeper is paid regularly to look after the house and keep it clean. However, because Edward seldom visits the house, the housekeeper does not clean the house regularly.
-Refer to the scenario above.The housekeeper's behavior is an example of ________.
A) the moral hazard problem
B) a positive externality
C) the prisoners' dilemma
D) the tragedy of the commons
Correct Answer:
Verified
Correct Answer:
Verified
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