Pension plans can be thought of as the opposite of life insurance because life insurance:
A. pays off when you die while the pension plan pays off if you don't.
B. costs far more than pension plans.
C. pools the savings of many and pension plans do not.
D. companies spread risk while pension plans are only spread within the company.
Answer: A
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McKeown's (1976) research attributed the majority of the secular decline in mortality rates in Europe and North America to
a. better nutrition and housing. b. improved sanitary conditions. c. clean water and waste disposal. d. reduced exposure to diseases. e. better medical care.
One effect of the lemons problem in the used car market is that
a. the market is efficient b. without reliable information, lemons become increasingly common c. no good cars are offered on the market d. no lemons are offered on the market e. good cars sell at more than their market value
In 2017, an income of $125,000 would, roughly, make a family
A. richer than 40 percent of U.S. households but poorer than 35 percent. B. richer than 50 percent of U.S. households but poorer than 25 percent. C. richer than 85 percent of U.S. households but poorer than 8 percent. D. richer than 95 percent of U.S. households but poorer than 1 percent.
A demand schedule provides
A. the amount of a good a person wants to sell during a given time period. B. the alternative quantities demanded for a given time period at different possible prices. C. the quantities of a good people are willing to sell every year. D. the amount of a good a person wants at different times of the day.