QUESTION 3 Steve is a very careful driver and has never been involved in an accident. Oscar, in contrast, nds that he is easily distracted when driving and has been involved in several recent accidents. When the price of insurance becomes too high, Steve does not want buy insurance while Oscar is still willing to buy it. This is an example of: O Moral Hazard only O Adverse selection only O Neither moral hazard nor adverse selection O Both moral hazard and adverse selection QUESTION 4- A new govemment mandate requires everyone to purchase health insurance. After getting insurance, Michelle decides to start practicing several risky skills to pursue her lifetime goal of becoming a stunt person even though she knows that she could be hurt doing so. This is an example of: O Moral Hazard only O Adverse selection only O Both moral hazard and adverse selection O Neither moral hazard nor adverse selection