If the deductible is $500 and the co-payment is 20%, on a covered expense of $1000 the individual will pay ________, and their insurance company will pay ________.
A. $400; $600
B. $500; $500
C. $500; $600
D. $600; $400
Answer: D
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Given the formula PDV = $F/(1 + R)T, the PDV is smaller when the number of years is ______ and when the interest rate is ______.
A. smaller; lower B. smaller; higher C. larger; lower D. larger; higher
Who would receive payments from the government under a negative income tax system?
A. Everyone B. Only people with no earnings C. Only people with incomes below a certain level D. Only people with incomes above a certain level
The statement that the minimum wage needs to be increased is a:
A) positive statement. B) normative statement. C) condition contained in the fallacy of false cause. D) scientific conclusion based on marginal analysis.
The profit-maximizing level for all firms in ________ is the output level where MC = MR.
A. only perfectly competitive industries B. only large industries C. only monopoly industries D. any industry