To signal to your insurance company that you are a low risk individual you should
a. Accept an insurance policy with no co-payments
b. Accept an insurance policy with co-payments
c. Accept an insurance policy with a low deductible
d. None of the above
b
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Which of the following is TRUE about the effects of an excise tax if consumers are totally unresponsive to price changes?
A) Consumers pay all of the excise tax. B) Producers pay all of the excise tax. C) Consumers and producers share the excise tax equally. D) Neither consumers nor producers pay the excise tax.
Pollution permit policies achieve an ________ outcome because ________.
A. efficient; firms that have the highest cost of reducing pollution will have the greatest incentive to purchase permits. B. inefficient; the supply of permits is set by the government, and so is perfectly inelastic. C. inefficient; wealthier firms can afford to purchase more permits. D. efficient; firms that have the lowest cost of reducing pollution will be able to pay more for each permit.
A price ceiling can often be viewed as: a. the government setting price above market equilibrium price
b. an implicit tax on producers and an implicit subsidy to consumers. c. the government setting price below market equilibrium price. d. Both b and c.
Diana tutors Tiago for two hours before his economics final exam. Tiago pays Diana through a direct transfer from his bank on a payment app. Diana then uses her debit card to buy pizza for dinner from the local pizza parlor. This is an example of
a. the exchange of money facilitating production and trade b. trade between two people who each have a good or service that the other wants. c. an inefficient allocation of scarce resources. d. the creation of money through monetary policy.