Clauses in life insurance policies that eliminate death benefits if the insured person commits suicide is an example of a
A) restrictive provision.
B) restrictive covenant.
C) anti-fraud exclusion.
D) risk-based deductible.
A
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The figure above portrays a total revenue curve for a perfectly competitive firm. Curve A is straight because the firm
A) is a price taker. B) faces constant returns to scale. C) wants to maximize its profits. D) has perfect information.
According to international trade theory
A) trade is based on absolute advantage. B) comparative advantage is based on absolute advantage. C) every country has a comparative advantage in something. D) less developed countries cannot trade successfully with developed countries.
The burden of a tax is mainly borne by the buyer if:
a. the supply of the good is perfectly price elastic. b. the supply of the good is relatively price elastic. c. the demand for the good is relatively price elastic. d. the demand for the good is relatively price inelastic. e. the demand for the good is perfectly price elastic.
If postal workers lose their positions because of the widespread e-mailing, texting, and faxing, it would likely _______ the natural rate of unemployment
a. increase. b. not change. c. decrease d. Have an unpredictable effect on.