2. A manager of Accurate Info, Inc., decides to purchase a golf membership for the senior executives
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2. A manager of Accurate Info, Inc., decides to purchase a golf membership for the senior executives of his firm. If he does not believe that this decision will raise shareholder value, then his decision is an example of:
a. adverse selection, but not an agency problem.
b. adverse selection and an agency problem.
c. moral hazard, but not an agency problem.
d. moral hazard and an agency problem.
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