For term life insurance, the policy holder pays
A) premiums based on current interest rates.
B) a constant premium.
C) premiums that vary with mortality risk.
D) constantly declining premiums.
C
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To have more consumer goods in the future, we must
A) produce more capital goods today. B) lower current income. C) get government involved in the production process. D) stop producing all goods today.
Say that Japanese firms commit to avoid laying off their employees when demand for their products is low, but American firms often lay off workers when demand is low. As a result, ceteris paribus, we would expect Japanese firms to: a. face more elastic demand curves than American firms
b. have relatively greater variable costs than American firms. c. continue to produce at some prices at which American firms would shut down. d. shut down at prices at which American firms would continue to operate.