Which of the following is true of coinsurance?
A) The policyholders do not have to pay a premium.
B) Each policyholder has to pay a certain fee while making claims.
C) The responsibility of paying claims is split between the insurer and the policyholder.
D) All policyholders pay the same premium irrespective of the scheme they chose.
C
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Let's assume producers in Canada can make 200 units of beef or 50 units of oranges, and U.S. producers can make 50 units of beef or 200 units of oranges per time period. Pick the true statement:
A) The opportunity cost of 1 unit of beef in Canada is 4 units of oranges. B) The opportunity cost of 1 unit of oranges in the U.S. is 4 units of beef. C) Canada is has a comparative advantage in oranges. D) The U.S. has a comparative advantage in beef. E) None of the above is true.
Assume that autonomous consumption equals $200 and that the mpc equals 0.8. If disposable income equals $1000, then total consumption equals
A) $80. B) $200. C) $800. D) $1000.