If a person has a deductible of $300 and must pay $500 out of a $1,300 health-care expense in a year, then their co-payment rate is
A. 50%.
B. 5%.
C. 10%.
D. 20%.
Answer: D
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The demand curve for tickets to the George Winston concert (with special guest star, Kenny G) is given as follows: Q = 200 - 0.1P At a price of $30, what is the consumer surplus from concert tickets?
A) $0 B) $20 C) $2,000 D) $1,970 E) $194,045
Why is a perfectly competitive firm said to be a price taker?
a. It produces such a good which is not produced by any other firm in the market. b. It faces a downward sloping market demand curve. c. The firm's individual production is insignificant relative to the production in the industry. d. There are no barriers to the entry of new firms in the industry. e. The firm's marginal-revenue curve is downward sloping.
Subjective evaluations
A) lend themselves to easy measurement. B) are objective in nature. C) are directly measured by productivity. D) are based on opinion.
Financial intermediaries typically require mortgage borrowers to have homeowner's insurance and do credit checks before making the loan
a. The insurance requirement and the credit check are both designed primarily to reduce adverse selection. b. The insurance requirement and the credit check are both designed primarily to reduce the risk of moral hazard. c. The insurance requirement is designed primarily to reduce adverse selection; the credit check is designed primarily to reduce the risk of moral hazard. d. The insurance requirement is designed primarily to reduce the risk of moral hazard; the credit check is designed primarily to reduce adverse selection.