When joe didn't have renter's insurance, he was very careful not to leave candles lit in his apartment and locked the door when he left. now that he has renter's insurance, he typically leaves candles burning all day and forgets to lock the door, because he knows that even if his apartment catches on fire or gets broken into, his insurance will cover it. which of the following economic problems is characterized in the story? a) the free-rider problem b) moral hazard c) government failure d) adverse selection

Moral hazard

Explanation:

In the example, we can see that Joe was very careful when he didn't have a renter's insurance. However, now that the situation has changed, he leaves candles burning all day and forgets to lock the door because he knows that even if something happens, someone else will pay for it.

Thus, this example has all the characteristics of a Moral Hazard.

in an absolute  monarchy, the  monarchrules as an autocrat, with absolutepower  over the state and government — for example, the right to rule by decree, promulgate laws, and impose punishments. the  monarch isnominally sovereign but the electorate, through their legislature, exercise political sovereignty.

the branch of biology that deals with the normal functions of living organisms and their parts.

the way in which a living organism or bodily part functions.