In general, demand curves for necessities tend to be price elastic

A dummy variable is also called

A) an approximate variable. B) a discrete variable. C) a zero-sum variable. D) an improper variable.

An indication that Insurance companies anticipate adverse selection is

a. they do not require a deductible b. they classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment