Bruce is a single father with 1 child. He can work as a bagger at the local grocery store for $7 per hour up to 1,200 hours per year. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Bruce works, the government policy is to deduct 60 cents from his welfare stipend for every $1 that he earns in income. With this policy in place, if Bruce works 600 hours, his income will be Hint: Think through what different components will contribute to income in this scenario. O $16.440 O $16,680 O $15,000 O $3,600 Question 14 2 pts When people have insurance against a certain event, the notion that those people are less likely to guard against that event occurring is called a O moral risk O moral hazard O hazard risk O risk
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