Lily Had a Pet Iguana Named Fred for Several Years

question 54

Multiple Choice

Lily had a pet iguana named Fred for several years.Since Fred could be considered a special possession,he

• A) relates to her ideal identity.
• B) relates to her actual identity.
• C) has a self expressive value.
• D) can really be enjoyed by others.
• E) is unlikely to be sold.

---

Definitions:

Negative Expected Value

A statistical condition where the anticipated result of an investment is less than the initial cost.

Moral Hazard

The risk that one party to a transaction has not entered into the contract in good faith or has an incentive to take unusual risks because the costs are not borne by that party.

Flat Salary

A flat salary is a fixed amount of pay received by an employee, regardless of the number of hours worked or the quantity of output.

Car Dealership

A business that sells new or used cars at the retail level, typically based on a dealership contract with an automaker or its sales subsidiary.