Insurance that pays all expenses generated by the insured activity is known as:
A. total-dollar insurance coverage.
B. cradle-to-grave insurance coverage.
C. last-dollar insurance coverage.
D. first-dollar insurance coverage.
Answer: D
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Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__rrr0818190951__f1q361g1.jpg" alt="" style="vertical-align: 0.0px;" height="117" width="538" />If one store is located at A and the other store is located at B:
A. exactly half of the people living east of B will shop at the store at B.
B. exactly half of the people living west of B will shop at the store at B.
C. all of the people living between A and the mountains will shop at the store at A.
D. some, but not all, of the people living east of B will shop at the store at B.
If net exports decrease, the expenditure schedule will
a. get steeper. b. get flatter. c. shift upward. d. shift downward.
The change in total cost that results from the production of one additional unit is called:
A. marginal revenue. B. average variable cost. C. marginal cost. D. average total cost.
One reason some manufacturing companies have moved production from overseas locations back to the United States is an increasing preference by U.S. consumers for products made in the United States. Assuming that managers at these companies used all
available information, including the increased preference by U.S. consumers for domestically produced, when making the decision to move production back to the United States exemplifies which key economic idea? A) People are rational. B) People respond to economic incentives. C) Optimal decisions are made at the margin. D) The market system relies on the principle of voluntary exchange.