For term life insurance, the policy holder pays
A) premiums based on current interest rates.
B) a constant premium.
C) premiums that vary with mortality risk.
D) constantly declining premiums.
C
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
The price elasticity of demand for a monopolist's product depends on
A) the number and similarity of substitutes. B) the ATC of the item it produces. C) the AVC of the item it produces. D) the MC of the item it produces.
Assume the United States can use a given amount of its resources to produce either 20 airplanes or 8 automobiles and Japan can employ the same amount of its resources to produce either 20 airplanes or 10 automobiles. The U.S. should specialize in
a. airplanes. b. automobiles. c. both goods. d. neither good.
When a domestic country exports goods to and imports goods from a foreign country, in the short run domestic:
A) producers in the exporting industry may be worse off. B) consumers of the imported good may be worse off. C) consumers of the exported good may be better off. D) producers in the importing industry may be worse off.