heck My Work Use the following scenario for the question below. A group of 100 people seeks out an insurance company to underwrite health insurance for its members. The expected medical spending for the group is $150,000. If an additional 10 people, who have expected medical spending of $5,000 per person on average, join the group, the new premium will be approximately:
a. $2,300.
b. $1,818.
c. $5,822.
d. $2,090.
e. $2,139.
e. $2,139.
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Who among the following enjoys some form of property rights?
A) A common homebody B) A small business owner C) A bondholder D) A state senator E) All of the above.
The size of the spending multiplier depends on the marginal propensity to consume (MPC)
a. True b. False Indicate whether the statement is true or false
Many economists argue that the best way to correct employer discrimination is to
a. pass comparable worth laws b. increase the price of output, thereby raising profit c. shift the marginal revenue product curve of the unfavored group to the right d. shift the demand for labor to the left e. allow the market mechanism to equalize wages
In Book 23 of Homer's Iliad are these words: "The winner was to acquire a fire-straddling tripod valued at twelve oxen by the Akhaians. As for the loser, in their midst Akhilleus placed a woman versatile at crafts, whose value was four oxen." What does this passage tell us about economics in the Iliad?
A. Oxen were used as the medium of exchange. B. Oxen were used as the unit of account. C. Oxen were the best way to store wealth. D. Oxen were used as legal tender.