Question 2 5 pts With regards to adverse selection and moral hazard problems: The former takes place prior to a contract, whereas the latter takes place after a contract. O The former is the result of a top-down conflict, whereas the latter is due to a bottom-up conflict in an organization. O The former takes place after a contract, whereas the latter takes place prior to a contract. O The former is the result of a bottom-up conflict, whereas the latter is due to a top-down conflict in an organization. Question 3 5 pts Based on the life cycle theory of savings, an average person's consumption path__ his/her income path through life. O follows closely O follows, with about a 3- to 5-year delay, 0 is relatively flat compared to O is relatively unstable compared to