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ECP 3530 EXAM 2 QUESTIONS WITH COMPLETE SOLUTIONS!!
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ECP 3530 EXAM 2 QUESTIONS WITH COMPLETE SOLUTIONS!!
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ECP 3530 EXAM 2QUESTIONS WITH
COMPLETE SOLUTIONS!!
ECP 3530
Evatee 9/16/24 ECP 3530
, ECP 3530 EXAM 2 QUESTIONS WITH
COMPLETE SOLUTIONS!!
All of the following are true about consumption smoothing EXCEPT:
It is facilitated by insurance.
It maximizes utility.
It maximizes income.
It occurs over time. Answer - It maximizes income
An actuarially fair insurance premium for a full-coverage policy is equal to the
(two words) Answer - Expected Loss
From an individual's (as opposed to society's) perspective, an optimal health
insurance policy is one that:
provides full coverage (i.e. imposes no out-of-pocket
payments).
has the lowest premium.
imposes coinsurance (i.e. out-of-pocket payments) for
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