In the market for insurance
A) sellers are protected from lawsuits brought by buyers.
B) demand is perfectly inelastic because, by law, home owners and automobile drivers must have insurance.
C) sellers often have better information than buyers.
D) buyers often have more information than sellers.
D
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When the marginal propensity to consume (MPC) increases
A) the average propensity to save remains unchanged. B) the multiplier remains unchanged. C) the multiplier decreases. D) the multiplier increases.
An individual's wealth constraint is determined by
a. the individual's level of education b. the facts that wealth is given and so she must give up one kind of wealth in order to acquire another c. overall conditions in the economy d. the amount of wealth the individual chooses to hold in the form of money e. the value of corporate stock