Risk pooling:
A. assures the individuals that they are less likely to have a catastrophe occur.
B. reduces the risk of catastrophes happening collectively to groups.
C. doesn't reduce the chances of catastrophes happening to individuals.
D. None of these statements is true.
C. doesn't reduce the chances of catastrophes happening to individuals.
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Inland passage times were reduced primarily through
a. increasing the speeds of the boats themselves. b. shorter layover times. c. the government activity to clear the rivers of natural obstructions. d. learning to operate the boats at night.
Refer to Figure 16.4. If the economy is initially in equilibrium at P3 and Q1, which of the following policies would move the economy to equilibrium at P2 and Q3?
A. Restrictive supply-side policy alone. B. A combination of restrictive fiscal policy and restrictive monetary policy. C. A combination of expansionary monetary policy and expansionary supply-side policy. D. Contractionary monetary policy alone.
More than 50 years ago Americans were warned to "beware of the military-industrial complex" by
A. General Douglas MacArthur. B. President Dwight D. Eisenhower. C. Vice President Richard Nixon. D. President John F. Kennedy.
Economic growth is shown by
A. a point near the top of the production possibilities curve. B. an inward shift of the production possibilities curve. C. a point outside the production possibilities curve. D. an outward shift of the production possibilities curve.