A key difficulty facing insurance companies is that people know more about their health than do insurance companies, and that those people who are seriously ill are the most likely to want to obtain health insurance
What is this phenomenon called?
A) asymmetric information B) moral hazard
C) economic irrationality D) adverse selection
A
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In the table above, if Brent maximizes his utility by consuming 3 bags of popcorn and 3 bottles of soda, then the ratio of the price of popcorn to the price of soda is expected to be
A) 1/2. B) 5/6. C) 6/5. D) 2.
Why have poor nations invested so much money in education and health? Evaluate the soundness of these reasons
What will be an ideal response?
Which of the following would NOT be considered a capability in the capabilities approach?
A. To be able to find secure and meaningful work B. To be able to afford to travel freely C. To live free of the fear of violence D. All of these are considered capabilities
Scarcity implies that
A. firms should be more efficient when producing goods. B. people must make choices. C. nonrenewable resources should never be used. D. people should limit their wants, since shortages exist.