Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 16, Problem 9RQ
What is an insurance premium?
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Chapter 16 Solutions
Principles of Economics 2e
Ch. 16 - For each of the following purchases, say whether...Ch. 16 - Why is there asymmetric information in the labor...Ch. 16 - Why is it difficult to measure health outcomes?Ch. 16 - Why might it be difficult for a buyer and seller...Ch. 16 - What do economists (and used-car dealers) mean by...Ch. 16 - What are some ways a seller of goods might...Ch. 16 - What are some ways a seller of labor (that is,...Ch. 16 - What are some ways that someone looking for a loan...Ch. 16 - What is an insurance premium?Ch. 16 - In an insurance system, would you expect each...
Ch. 16 - What is an actuarially fair insurance policy?Ch. 16 - What is the problem of moral hazard?Ch. 16 - How can moral hazard lead to more costly insurance...Ch. 16 - Define deductibles, copayments, and coinsurance.Ch. 16 - How can deductibles, copayments, and coinsurance...Ch. 16 - What is the key difference between a...Ch. 16 - How might adverse selection make it difficult for...Ch. 16 - What are some of the metrics economists use to...Ch. 16 - You are on the board of directors of a private...Ch. 16 - A website offers a place for people to buy and...Ch. 16 - How do you think the problem of moral hazard might...Ch. 16 - To what sorts of customers would an insurance...Ch. 16 - Using Exercise 16.20, sketch the effects in parts...
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Similar questions
- How does insurance creates wealth?arrow_forwardHow can you use Microsoft Excel and your agility and problem solving skills to understand the level of risk involved in selecting the appropriate insurance to achieve your goals. How will problem solving, productivity, technology, and agility help you achieve your personal and professional goals?arrow_forwardInsurance needs change throughout a person’s lifecycle because people’s needs change. True or Falsearrow_forward
- what are the recommendations for vouch insurance?arrow_forwardHow can insurance companies offer a guarantee to pay for certain medical expenses? How do they determine the appropriate premium to charge?arrow_forwardSuppose you have $5,000 as a gift from your parents just after you graduate. You have a car, your great grandfather’s rare World War I commemorative badge collection and you quickly found a place to rent for a while. You work in a factory that has a history of workplace injury and you work near the conveyor belts and other giant machines. You are single and live by yourself. Based on this information, what types of insurance would you need to purchase? List each type you would need and explain in 1-2 sentences why.arrow_forward
- how do you calculate customer's life time value?arrow_forwardWhen you choose to buy insurance, are you speculating? When you choose not to buy insurance, are you also speculating? Explain.arrow_forwardhow does teen pregnancy affect or influence one’s personal & family health. how does it affect society as well?arrow_forward
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