Relating to the Economics in Practice on page 357: A long-term study of Huntington's disease patients found that individuals who carry the Huntington's disease genetic mutation are up to five times as likely as the general population to buy long-term care insurance. This is an example of ________ in the health insurance market.
A. market signaling
B. moral hazard
C. adverse selection
D. risk-loving
Answer: C
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In the above figure, point A is ________, and point B is ________
A) attainable, attainable B) attainable, unattainable C) unattainable, attainable D) unattainable, unattainable
Pure monopoly
a. is defined as having only one supplier. b. has no close substitutes for its product. c. exists when entry and survival of potential competitors is extremely unlikely. d. All of the above are correct.
The slope of a curve at any point is given by this formula:
A. The change in y coordinates between two points divided by the change in their x coordinates. B. The percentage change in x coordinates between two points divided by the percentage change in their y coordinates. C. The percentage change in y coordinates between two points divided by the percentage change in their x coordinates. D. The change in x coordinates between two points divided by the change in their y coordinates.
The single largest source of smog is:
A. automobiles. B. power plants. C. industrial manufacturing. D. fireplaces.