The life insurance industry's share of total financial intermediary assets fell from 15.3% at the end of 1970 to 11.5% at the end of 1980 because of
A) poor investment returns in the 1970s.
B) widespread failures of life insurance companies.
C) federal regulations limiting the sale of life insurance.
D) unpredictability of payouts.
A
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A single-price monopolist will produce at the point where
A) MR = 0. B) MR = P. C) MR = MC. D) P = MC.
Two bottles of over-the-counter pain reliever sit side-by-side in a grocery store: Advil (a brand name) sells for $5.00, while Feel Better (not a brand name) sells for $2.50 . In a typical day the store sells some of each type of pain reliever, which suggests that
a. no rational consumer would spend twice as much for Advil as he would for Feel Better. b. some consumers must perceive that Advil is a higher quality product. c. Advil has no incentive to maintain the quality of its product just because of the Advil brand name. d. Advil spends money on advertising to reduce competition in the market.
The following table shows the number of labor hours required to produce one gallon of wine and one pound of cheese in the United States and France. If the United States and France engage in free trade with each other, the international price of wine will lie between ________ and Labor hours to make:In the United StatesIn France1 gallon of wine4.001.001 pound of cheese1.002.00
A. one pound of cheese per gallon; four pounds of cheese per gallon. B. 0.5 pound of cheese per gallon; four pounds of cheese per gallon. C. 0.5 pound of cheese per gallon; two pounds of cheese per gallon. D. one pound of cheese per gallon; two pounds of cheese per gallon.
Critics of minimum-wage legislation argue that it:
A. keeps inefficient producers in business. B. reduces employment. C. undermines incentives to work. D. is deflationary.