Which is the best definition for the term moral hazard?-when one side of an economic transaction has more information about the good being exchanged than the other side has-when businesses pursue profit at the expense of employee well-being-when people take unwise risks-when people who are not responsible for the entire costs of their actions take riskier actions than they would otherwise take-when imperfect information implies that people must choose from an undesirable selection of goods-when consumers must decide whether to purchase goods from firms with potentially objectionable business practices-when people engage in hazardous activities because of a deficient moral code

Then try StudyFetch, the AI-powered platform that can answer your questions and teach you more about it!