Self insurance refers to: the practice of setting aside funds to pay for medical care expenses instead of paying premiums to an insurance company. Approximately, _______ of all employees who participate in group insurance plans work for firms that self-insure
a. starting one's own insurance company
b. buying insurance from a not for profit entity
c. setting aside fund to pay for medical care expenses instead of buying insurance
d. none of these
e. both a and b
C
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As an economic expansion approaches its peak, it is very likely that real GDP will
A) exceed nominal GDP. B) exceed potential GDP. C) equal nominal GDP but not potential GDP. D) be less than potential GDP. E) equal nominal GDP and equal potential GDP.
Ricardo buys cola and popcorn. Cola sells for $0.50 a can and popcorn sells for $1 per bag. He is in consumer equilibrium. The price of a cola jumps to $1 per can. In his new consumer equilibrium, Ricardo's
A) marginal utility of cola will be equal to his marginal utility of popcorn. B) marginal utility per dollar spent will be 2. C) total utility will be higher. D) marginal utility of cola will decrease.