Which of the following is true of inflation?
A) It occurs when money is injected into an economy that is experiencing greater output.
B) It is the result of supply and demand for a currency.
C) It increases people's purchasing power.
D) It is not particularly affected by the unemployment in a country.
B
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In the _____ model, the _____ acts as a buffer between business and non-market forces.
Fill in the blank(s) with the appropriate word(s).
Kevin's background is market research. He was hired by Alpha Insurance to perform an analysis of consumers in a certain geographic region. His research indicated that although these consumers were fairly affluent, most did not have large amounts of life insurance. Kevin's position at the insurance company would fall under which functional area?
(a) claims settlement (b) production (c) underwriting (d) ratemaking