A deductible reduces ________ in exactly the same way as ________
A) moral hazard; coinsurance
B) adverse selection; restrictive provisions
C) moral hazard; cancellation of insurance
D) adverse selection; limits on the amount of insurance
A
Economics
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Suppose the production of VCRs can be represented by the following production function: q = L0.4 K0.4. The firm currently produces units. If all inputs doubled, the new level of output will equal
A) 20.4 q1. B) 20.8 q1. C) 0.8 q1. D) 1.6 q1.
Economics
When there is a liquidity trap, the money demand curve is ________.
A. downward sloping B. flat C. upward sloping D. vertical
Economics