An insurance policy that protects an individual over an entire lifetime as long as the premiums are paid is called

BBB Auto Club provides emergency road service and other services to its members. BBB Auto Club charges a higher membership fee to new members than it charges to members who are renewing their membership

When asked to explain this pricing policy, the auto club president noted, "New members often sign-up prior to taking a long road trip, so we have to charge more as first-year members have higher service utilization rates." A similar phenomenon observed in insurance markets is called A) attitudinal hazard. B) adverse selection. C) risk aversion. D) moral hazard.

Briefly explain the four kinds of workplace labor agreements: closed shop, union shop, agency shop, and open shop

What will be an ideal response?