An example of permanent insurance is ________ insurance, and an example of temporary insurance is ________ insurance
A) term; variable life
B) whole life; variable life
C) whole life; term
D) term; whole life
C
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Land inheritance in the Southern Colonies differed from inheritance in the Middle and New England Colonies in that
(a) the policy of primogeniture was followed in the South, which encouraged the formation of large land-holdings, whereas primogeniture was normally not followed outside the South. (b) primogeniture was actually followed throughout the colonies but the crops grown in the South, such as tobacco, required larger land-holdings to be profitable than those outside the South. (c) in the South, the large slave plantations had to be re-granted by the colonial government after the death of the owner, usually to the eldest son, but this was not required outside the South. (d) all of the above
Nominal GDP includes the current value of services produced in the economy
a. True b. False Indicate whether the statement is true or false
Empirical analysis uses ______ to test a hypothesis.
a. subjectivity b. data c. rationality d. correlation
If the entrepreneur is also the manager of the firm, we would expect
A) the manager to work hard because he or she is also the residual claimant. B) the manager to not work hard since there is no possibility of further advancement. C) the firm to operate poorly because the specialization of labor is not adequate. D) the firm to operate poorly because the entrepreneur is not as good at managing workers as a professional manager would be.