The tendency of many different economic variables to have regular and predictable patterns over the business cycle is called

A good that provides external benefits to society has:

a. too few resources devoted to its production. b. too many resources devoted to its production. c. the optimal resources devoted to its production. d. not provided profits to producers of the good.

Risk pooling:

A. reduces the chances of catastrophes happening. B. lowers the costs of catastrophes when they occur. C. allows individuals the peace of mind that they will never have to pay the full expense of a catastrophe if it hits them. D. All of these statements are true.