​Economists Have Found That Some Risky Behaviors Increase and Preventative

question 343

Multiple Choice

​Economists have found that some risky behaviors increase and preventative medicine use decreases when individuals in the U.S. turn 65 and qualify for Medicare (public health insurance) . This phenomenon is most consistent with which of the following concepts?

• A)​Moral hazard
• B)​Time inconsistency
• C)​Availability bias
• D)​Confirmation bias

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Definitions:

Customers

Individuals or entities that purchase goods or services from a business, forming the basis of its revenue and market success.

Managerial Quality

The effectiveness and capability of managers in leading and making decisions that contribute to the success of an organization.

Vision

A statement or idea about what the future looks like, often used by organizations to guide long-term planning and decision-making.

Marketplace Needs

are the requirements and desires of consumers in a particular market segment, which businesses seek to satisfy through the development and offering of products or services.