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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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.
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?