An insurance benefit is:
A. the contract that reduces the financial loss associated with some risky event.
B. the amount of money a policy holder pays for the insurance policy.
C. the amount of money a policy holder receives if a specific loss occurs.
D. the probability of loss from a specific event.
C. the amount of money a policy holder receives if a specific loss occurs.
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The purpose of a Clarke tax is to
a. give people an incentive to truthfully reveal their preferences for a public good. b. raise enough revenue to pay for a public good. c. give producers an incentive to supply nonrivalrous public goods in socially efficient quantities. d. prevent the dissipation of rents that would occur with a nonexcludable public good.
In the United States, the poorest 20 percent of households receive about ________ percent of total income
A) 15 B) 20 C) 3 D) 49 E) 23
Guiseppe Vibrato was so sick of his job that he quit, and now spends his days at the tavern, saying he never wants to work again. Guiseppe is
A) a discouraged worker. B) a discouraged drinker. C) unemployed. D) neither employed nor unemployed.
In 1776, ______________ was the most populated colonial city
a. New York b. Philadelphia c. Charleston d. Boston