A specified amount of a claim that the insurance company does not need to pay is called:
A) coinsurance
B) deductible
C) copayments
D) premium
B
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If the market demand for oranges is relatively inelastic with respect to price, orange consumers
A) pay no attention to price in their purchasing decisions. B) will buy fewer oranges at any higher price and will spend less money on oranges. C) will buy fewer oranges at any higher price but will spend more money on oranges. D) will buy more oranges at any higher price. E) will buy more oranges only if their incomes increase.
Refer to Figure 5-6. What does D1 represent?
A) the demand curve reflecting private benefits B) the demand curve reflecting social benefits C) the social welfare curve D) the positive externalities curve
A major fruit juice manufacturer failed in its attempt to engage in price discrimination between students and all other consumers. What is the most likely explanation for this failure?
a. There was nothing to prevent the students from reselling the fruit juice to other consumers. b. The two groups of consumers have different demand elasticities for fruit juice. c. The cost of producing the product is relatively high. d. Market demand for fruit juice is inelastic.
The countries of ______ and _____ have a significant influence over changes in U.S. interest rates.
Fill in the blank(s) with the appropriate word(s).