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In the principal-agent problem, who is typically the principal?
Which mechanism can help reduce moral hazard in car insurance?
How do commission-based pay and year-end bonuses help reduce shirking among employees?
In what way does a college degree act as a signal in the job market?
Which of the following is an example of signaling in a used car sale?
What is signaling in the context of information asymmetry?
In what way do signaling and screening differ in their approach to resolving information asymmetry?
What is a limitation of the median voter theorem?
What is a potential policy outcome of the median voter theorem?
In a group with preferences of \$10, \$20, \$30, \$40, and \$50, which budget will likely win according to the median voter theorem?
In a data set of [5, 15, 25, 35, 45], what is the median?
In a scenario where A beats B, B beats C, and C beats A, what outcome can be predicted if the voting agenda is B vs C followed by A vs B?
What happens when the voting agenda is manipulated in a Condorcet Voting Paradox?
What is a limitation of majority voting in accurately reflecting societal preferences?
How does the Condorcet Voting Paradox affect the reliability of majority voting systems?