Some health insurance companies pay only 70%-80% of the medical cost incurred by their customers. What is the reason for this?
What will be an ideal response?
Medical insurance companies often do not pay the entire medical cost incurred by their customers. This is because if the insurers do not have to pay the entire amount of medical cost incurred by them, the customers are more likely to take better care of themselves because they have to bear a part of the medical cost in case of an illness.
You might also like to view...
In the Keynesian model, whenever unplanned inventory increases occur in the economy, production is likely to
a. speed up slowly. b. slow down. c. remain unchanged. d. speed up immediately.
The larger a percentage of the population a person is, the ______________ likely that person will have to further engage with people she meets. This implies that she will generally be ____________ likely to behave unethically and poorly with the people in her town as the population of her town increases
A) more; less B) less; less C) more; more D) less; more
The invisible band principle indicates that competitive markets can help promote the efficient use of resources
What will be an ideal response?
Carol is a coal miner who just got laid off when the last coal mine in the area was shut down. She has looked everywhere for another job as a miner, but cannot find one. Given that Carol is unlikely to find another job as a miner, she would be considered:
A. real-wage unemployed. B. Carol is a discouraged worker. C. structurally unemployed. D. frictionally unemployed.