1. This question deals with moral hazard.

1. Explain what moral hazard is.

1. When moral hazard exists or occurs, should that activity be outlawed?

1. Explain why moral hazard exists in used car markets and what could be done by both buyers and sellers to reduce its effects.

1. Explain why moral hazard will exist both for students and colleges if President Biden's proposal to forgive federal student loan debt is implemented.