Which of the following statements about joint underwriting associations is correct?
A) All states have joint underwriting associations.
B) All those who want to get insurance can join.
C) Insurance companies charge the involuntary market losses to the voluntary market.
D) They provide assigned risk plans.
C
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Which of the following is a major consideration when analyzing a special pricing decision?
A) The sales price must be high enough to cover any differential costs to fill the order. B) The company must have a good stock turnover ratio. C) The profit margin of the special sale must be higher than the regular sales. D) The sunk costs of the decision must not exceed the irrelevant costs.
Many nonunion companies offer higher compensation than they would if unions were nonexistent. What is this phenomenon called?
A) progressive compensation B) the spillover effect C) concessionary bargaining D) inter-industry compensation differentials