producer collects he initial premium for a healih policy and gives he applicant a conditional receipt. In lhis situation lhe policy becomes effective at which of the following limes? A.When he premium is received in lhe insurance company's home office B.When the policy is delivered

producer collects he initial premium for a healih policy and gives he applicant a conditional receipt. In lhis situation lhe policy becomes effective at which of the following limes? A.When he premium is received in lhe insurance company's home office B.When the policy is delivered

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter22: Contemporary Issues In The U.s. Economy

Section: Chapter Questions

Problem 5DQ

See similar textbooks

Related questions

Q: 1. $1500 is invested semi-annually for 3 years into a fund that pays 6.8% per year, compounded semi-…

A: Compound interest refers to the interest earned on interest, it helps in growing money and can…

Q: Question 190 of 190 FINAL - Social Studies In recent years, the top two manufacturers of soft…

A: Here, it is given that top two manufacturers in the soft drink industry purchase other two…

Q: ders 12, 30 and 25 items of goods G1, G2 and G3. The cost of each item of G1, G2 and G3 is $8, $30…

A: A firm orders 12, 30, and 25 items of goods G1, G2, and G3. The cost of each item of G1, G2, and G3…

Q: What are the Crisis in the Tourism and Hospitality Industry to date. How it affects both industries,…

A: The crisis is a term that is used to define difficulties and challenges that might affect an…

Q: Which of the following generates the network economies of scale? i) Tiktok ii) Coffee from Starbucks…

A: When talking about economies of scale, it is the market situation when a firm is able to reduce its…

Q: TVC 0 65 105 135 167 203 244 293 d. 55 355 432 10 527 8. Suppose the price determined by the market…

A: TC = TFC + TVC AVC = TVC/Q ATC = TC/Q MC = Change in TC / Change in Q

Q: Question 10 a b and c Assume that there is a free-floating exchange rate. Will the following…

A: There are various factors that affect the demand/supply of currency in the foreign exchange market…

Q: A pharma company uses spectrophotometers to analyze the concentration of products. One of the…

A: Fixed costs include any number of expenses, including rental lease payments, salaries, insurance,…

Q: This continues the previous question. WMW's cost of producing q deluxe marble kits per week is c =…

A: Given Demand equation:p=600-3q-0.01q2 ...(1) Cost equation: c=225q+2500…

Q: employment rent. If Maria loses her job, her government provides an unemployment benefit for up to…

A: Here, the information about employment rent and unemployment benefits to Maria is given to explain…

Q: Adapt the two-sided search model to include government activity as follows. Suppose that the…

A: Two-sided search model The two-sided search model refers to the supply of labor and demand of them…

Q: a There are disputes sometimes even after the goods have been delivered. Explain five ways of how…

Q: distinguish the roles of the parties associated with the bank bill issue

A: The parties that can be involved in bank bills issued are as follows: 1- Creditor 2- Debtor 3-…

Q: Offer, acceptance, and consideration are necessary elements of A.a warranty B.a…

Q: Which of the following stalements is CORRECT about Medicare? A.Il is a medical assistance…

A: When talking about Medicare, it is the government program implemented in the United States with the…

Q: Discuss factors that determine the demand and supply of money in the financial system

A: A financial system can be considered on a business, provincial, or international levels, making it…

Q: 2. The internal rate of return on an investment refers to the interest rate earned on the: a.…

A: The internal rate of return, often known as the IRR, is a financial indicator that is used to…

Q: 1. Use the table above to find the values for letters a to e.

A: The expenses that are being incurred by an entity or business for carrying out their day-to-day…

Q: Question 1 Please help awnser the following question I have attached pictures of the a small…

A: According to the uncovered interest rate parity (UIP) theory, the difference in interest rates…

Q: If the price index was 125 last year and is 138 this year, this year rate of inflation will be??

A: Inflation is easy language we can say that it is increase or merely rise in the prices of the goods…

Q: How much equal amounts of money was deposited each year for 8 years if the account is now worth…

A: Information given is as follows:- Account worth = $20000Total time period = 8 years Interest rate…

Q: Question 5 Consider a competitive exchange economy with two individuals (A and B) and two goods (x…

A: We have two consumers A and B with two goods x and y. Each consumer have initial endowments of both…

Q: b+I+G-aT 1-a The reduced form of a macroeconomic model is Y = constant values of investment and…

A: Y = (b + I* + G* - aT*) / (1-a) Where I* and T* denotes the constant value of investment and…

Q: 5. Explain why the short-run AVC and AC curves are U-shaped.

A: The cost that depicts the cost of production per unit by dividing the total cost by the total output…

Q: Concentrate on the following production function: 10KL Q K+L Suppose w = Php 1, r = Php 4, and K = 4…

A: "A production function depicts a relation between inputs involved in the production process and…

Q: For each of the regions, use the midpoint method to identify whether the supply of this good is…

A: The mid point method is used to calculate the elasticity of supply. Formula: Es=…

Q: a. Monthly disbursement. b. Income taxes. c. MIRR. d. None of the above. 5. is established by the…

A: 4. The answer is - d. None of the above

Q: To decrease the costs of operating a lock in a large river, a new system of operation is proposed.…

A: With capitalized costs, the monetary worth isn't leaving the organization with the acquisition of a…

Q: Assume that there are only three possible levels of education: "low", "middle" and "high". Among…

A: Introduction Suppose we have three possible level of education: low, middle and high. Education…

Q: Q1. What is the economics of international economy? Briefly discuss the evolution of the classical…

A: International economics is concerned with the effects of international differences in productive…

Q: Write Company has a maximum capacity of 200,000 units per year. Variable manufacturing costs are $12…

A: The break-even point is the point at which total cost and total revenue are equal, meaning there is…

Q: A medium of exchange is: an asset that can be used to transport purchasing power from one…

A: Money has three functions to perform: unit of account, medium of exchange and store of value.

Q: Huawei as reference to explain 1. identify and illustrate the micro-foundations (that is,…

A: 1. Huаwei in the context of Chinese corporations and, in a few cases, non-Chinese corporations where…

Q: TFC TVC 0 65 105 135 167 a. 203 244 293 d. 55 355 432 10 527 3. Draw the short-run MC, AVC, and AC…

A: Given Q FC TVC TC AVC 0 0 1 65 2 105 3 135 4 167 5 a…

Q: A company produces electric devices, the fixed cost is 30,000 LE and the variable cost is 100 LE per…

A: The amount cash that the offer of every unit will add to taking care of total fixed costs is known…

Q: The neo-classical growth theory formulated in the 1950's and 1960's focused on capital accumulation…

A: Neo classical growth model focuses on the technological change to drive up economic growth.

Q: 1) Which of the following actions can the Federal Reserve take to reduce inflationary pressures in…

A: Inflationary tensions are the basic reasons for expansion. These tensions are the explanation that…

Q: A corporation uses a type of motor truck which costs P 250,000, with life of 2 years and final…

A: The cost that is being incurred annually for the ownership and operation of an asset over its life…

Q: Using the figure below, Producer Surplus is area Price A B C E D OA O B O C OD Quantity

A: Demand curve is downward sloping and supply curve is upward sloping. Equilibrium is achieved at a…

Q: 3. Using the graph to the right, suppose the country opens up to international trade, the world…

A: Equilibrium is achieved at a point where demand curve intersects supply curve. When world price lies…

Q: A6 describe the changes of current, capital, and financial account balances. Is the deficit of…

A: Balance Of payment Balance of payment refers to the statement of a country that shows the inward…

Q: JO TVC 0 65 105 135 167 a. 203 244 293 d. 55 355 432 527 3. Draw the short-run MC, AVC, and AC…

A: TC = TFC + TVC AVC = TVC/Q ATC = TC/Q MC = Change in TC / Change in Q

Q: Would you expect the presence of the labor unions to lead to higher or lower pay for worker-members…

A: a labor union is an association of laborers shaped to propel its individuals' advantages in regard…

Q: Under the Neo-Classical growth model, for a given the intercept, a steeper aggregate demand function…

A: Aggregate demand refers to the sum of the individual demand of goods and services in an economy.

Q: A firm faces the demand curve: P = 1,374 - 16Q. What is the firm's revenue maximizing price? Enter…

A: "Demand function of a firm shows a negative relationship between price of a product and quantity…

Q: Suppose a company has fixed costs of $600 and variable costs per unit of x + 1130 dollars, where x…

A: Answer: Given, Fixed cost = $600 Variable cost per unit=78x+1130Price per unit=1200-18x (a).…

Q: 4. Suppose that a firm has a total cost function C(Q) MC, min ATC. What market prices will lead to a…

A: Over the long , the average cost and the marginal cost are equal.

Q: Question A16 (a) Identify and explain three potential barriers to marketing planning. (b) Evaluate…

A: Market is the place or platform where people of various needs throng together to carry out their…

Q: Q1. Suppose the government is considering an increase in the toll on a certain stretch of highway…

A: Elasticity measures th responsiveness of change in price on the quantity demanded of any good or…

Question

A producer collects he initial premium for a healih policy and gives he applicant a conditional receipt. In lhis situation lhe policy becomes effective at which of the following limes?

A.When he premium is received in lhe insurance company's home office

B.When the policy is delivered

C.When the conditions of the receipt are met

D.When the premium check clears the bank

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

An applicant for life insurance must be informed of their rights under the Fair Credit Reporting Al al which of the following times? When tho producer makes the initial appoiniment to see the insured When the producer completes the insured's application When the producer delivers the policy When the insurer receives the initial premium
Which of he following stalements about lhe Time Limil on Certain Defenses provision in an Accident and Heallh policy is CORRECT? A.It specifies the period of time after which an insurance company can deny a claim on he basis of the claim having pre-existed before the effective dale of coverage. B.It specifies the period of lime during which the insured must submit Proof of Loss. C.It prohibits legal actions against the insurance company after a specified period of time. D.It prevents an insurance company from maki any changes to a policy after il is issued.
What is an actuarially fair insurance policy?
Insurance buyers have more information about whether they are high-risk or low-risk than the insurance company does. This creates an asymmetric information problem for the insurance company because buyers who are high-risk tend to want to buy more insurance, without letting the insurance company know about their higher risk. How might this problem impact an insurance company? F T O The company will not be impacted. O The insurance buyers, not the company, will be impacted. As high risk buyers submit claims, they will use up the company's funds for that year, and since the company did not adjust for these high risk claims, once that money is used up, remaining claimants won't receive any coverage. The company will be faced with heavy losses. The insurance company may decide not to sell insurance in this market at all or otherwise choose not to sell insurance to those they can identify as high risk. 106 # C 4 $ JUL 21 tv♫♬ % MacBook Pro Search or type URL + W D P N Ⓒ
For each of the following kinds of insurance, give anexample of behavior that reflects moral hazard andanother example of behavior that reflects adverseselection.a. health insuranceb. car insurancec. life insurance
Please refernece attachment. .
H applied for a individual major medical policy. When H filed a claim within the first year of coverage and the underwriter noticed that the H's age on the claim form was different than what was listed on the application. The insurer will take which of the following actions regarding H's claim? A: Deny the claim and refund premiums B: Deny the claim, cancel the policy and keep all premiums C: Pay the claim in full and keep the policy as is D: Adjust the claim benefit amount to the insured's correct age
(80) purchases a whole life insurance policy of 100,000 payable at the end of the year of death. You are given: I. The policy is priced with a select period of one year. II The select mortality rate equals 80% of the mortality rate from the Standard Ultimate Life Table. III Ultimate mortality follows the Standard Ultimate Life Table. i=0.05 Calculate the actuarial present value of the death benefits for this insurance. A.58,950 B.59,050 C.59,150 D.59,250 E.59,350
A9 Describe an example of adverse selection that we may run into in the real world. How does adverse selection impact the policy holders for this specific type of insurance for: High risk participants? Low risk participants? What is one government regulation that has been enacted in the last 20 years that helps either high risk or low risk policy holders in the United States
The insurance case for family formation refers to O A) life insuragce that a spouse might buy so that the other spouse can have security when they die. O B) the fact that each spouse will be there for the other if one of them becomes ill or loses their source of income.. OC) health and dental insurancehata man has at work and covers the wife as well. D) investments that you can make as a couple. E) both A) and C)
Adverse selection can occur when a. all persons involved in a transaction have full information one person has information not available to others
What type of insurance plan does this insured hold ? O. Health Maintenance Organization O. Preferred Provider Organization O. Physician Hospital Organization O. Exclusive Provider Organization