Life insurance companies are supervised and regulated by the
A) Federal Home Loan Bank Board.
B) Securities and Exchange Commission.
C) states in which they operate.
D) Federal Reserve.
C
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Adverse selection in insurance requires that
a. all people face the same risk b. potential customers facing more risk are no more interested in purchasing insurance c. people are not risk averse d. insurers cannot tell higher risk people from lower risk people
Suppose Larry's Lariats produces lassos in a factory, and uses nine feet of rope to make each lasso. The rope is put into a machine that automatically cuts it to the right length, then seals the ends to prevent fraying. The rope is then hand tied, dipped, and wound before being placed in a packaging machine to prepare it for retail sale. Which of the following would be considered a fixed cost for this company?
A. Employee wages B. The cost of rope C. The packaging material D. None of these would be considered a fixed cost.
Using Figure 1 below, if the aggregate demand curve shifts from AD2 to AD1 the result in the short run would be:
A. P1 and Y1.
B. P3 and Y1.
C. P4 and Y1.
D. P4 and Y2.
GDP can be used to measure both short-term changes (i.e., over several months) and long-term changes in economic activity
a. True b. False