Moral Hazard

question 74

Multiple Choice

Moral hazard:

• A)is about unrelated characteristics of people.
• B)is about the actions of people.
• C)occurs before the parties have entered into an agreement.
• D)None of these statements is true.

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Definitions:

Fugitive Slave Law

Refers to the laws enacted by the United States Congress in 1793 and 1850 that mandated the return of runaway slaves to their owners.

Underground Railroad

A network of secret routes and safe houses used in the United States during the early to mid-19th century to help African slaves escape to free states and Canada.

Slaves Escaped

Refers to the action of enslaved African Americans fleeing from bondage in search of freedom, often via networks like the Underground Railroad.

Slaveholders

Individuals or entities that owned slaves as property for labor or trade.