If the deductible is $400 and the co-payment is 25%, on a covered expense of $800 the individual will pay ________, and their insurance company will pay ________.
A. $300; $500
B. $500; $500
C. $500; $100
D. $500; $300
Answer: D
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Consider a used car market in which half the cars are good and half are bad (lemons). If buyers are rational, the prices being offered for used cars will result in
A) a larger proportion of good cars being sold and consequently, consumer surplus is increased. B) an equal proportion of good cars and lemons being sold in an inefficient market. C) a larger proportion of lemons being sold and consequently, producer surplus is increased. D) an equal proportion of a good cars and lemons being sold in an efficient market.
Nonrivalry and nonexcludability are the main characteristics of:
A. consumption goods. B. capital goods. C. private goods. D. public goods.
From December 2007 to December? 2010, the BLS initially reported that employment
What will be an ideal response?
The price elasticity of demand is a measure of
A) the equilibrium price of a product. B) buyers' responsiveness to changes in the price of a product. C) the amount of a product purchased when income increases. D) whether a product is a substitute or a complement. E) how much a change in demand affects the equilibrium price.