All of the following are advantages of risk pooling in the health insurance market except
A) it is easier for an insurance company to estimate the average number of claims likely to be filed under a group policy than it is to predict the number of claims likely to be filed under an individual policy.
B) by insuring large groups as opposed to individuals, health insurance companies reduce adverse selection.
C) individuals who are insured and therefore do not have to pay the full cost of health care services may be inclined to overuse those services.
D) it gives very sick people in the pool the same access to health care and pay the same premiums as healthy individuals.
C
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What is a patent used for?
a) to disseminate information b) to restrict ownership c) to protect inventors for as long as they live d) to assign property rights
Refer to Figure 5-13. The market equilibrium quantity of gasoline is ________ million gallons per month
A) 20 B) 32 C) 48 D) 56