Examlex
The following table gives the results of a 2005 survey of 1000 people regarding the funding of universal health care by employers (employer mandate) .
What is the probability that a person selected at random from this group will favor universal health care F with an employer mandate, given that the person is a Democrat D?
Moral Hazard
The situation where one party is more likely to take risks because they do not bear the full consequences of their actions.
Shirking
Avoiding or neglecting duties, responsibilities, or work, often covertly, to reduce personal effort while still receiving compensations or benefits.
Working Diligently
Refers to the act of putting consistent and earnest effort into one's tasks or duties.
Moral Hazard
A scenario in which an entity is prone to engage in risky behaviors knowing that another party will shoulder the consequences of such risks.
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