Lakeisha Has a Snake Phobia and Decides to See a Behavioral

question 23

Multiple Choice

Lakeisha has a snake phobia and decides to see a behavioral therapist. Her therapist suggests systematic desensitization. What is the second step Lakeisha will take in her therapy?

• A)touching a snake
• B)looking at pictures of a snake
• C)learning relaxation techniques
• D)being in the same room as a snake
• E)developing a fear hierarchy for snakes

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Definitions:

Moral Hazard

The situation where one party takes on risk because they know that another party will bear the consequences.

Adverse Selection

A situation in insurance and markets where higher-risk individuals are more likely to select and use insurance or services, potentially leading to market inefficiencies.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be positive or negative.

Diminishing Utility

A principle in economics that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.