Insurance policies can be bought to cover unexpected costs due to which kind of risk?
A. Automobile theft
B. Fire damage to your home
C. Fighting a rare disease
D. Individuals can buy insurance to cover all these risks.
Answer: D
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In the 20th century, the ratio of the U.S. debt to GDP has largely
A. Fallen to its lowest levels during recessions or depressions. B. Risen in response to wars. C. Been inversely related to the deficit to GDP ratio. D. Fallen during wartime compared with prewar levels.
An import quota:
A. limits the amount of a good that can be imported, thus decreasing prices. B. limits the amount of a good that can be imported, thus increasing prices. C. increases the amount of a good imported, thus decreasing prices. D. increases the amount of a good imported, thus increasing prices.
In which market structures is the firm able to earn long-run economic profits?
A. oligopoly and monopoly B. perfect competition and monopolistic competition C. monopolistic competition, oligopoly and monopoly D. monopolistic competition and oligopoly
Publicly provided health insurance for the poor will
A. increase the total amount of health care consumed. B. raise the level of health care consumed by the non-poor. C. raise the price of health care to the non-poor and increase the total amount of health care consumed. D. raise the price of health care to the non-poor.