What's covered; what's not. A homeowners insurance policy can cover damage caused by such perils as fire, windstorms, hail, lightning and vandalism. Typically, damage caused by floods and earthquakes are excluded. Optional coverages and policies may be available to cover damage due to additional perils.
Hello,
The answer is True.
Hope this helps
Answer: Option (d) is correct.
Explanation:
Option (d) - Raises the quantity of labor supplied and reduces the quantity of labor demanded.
When a union raises the wage above the equilibrium level, this will lead to increase the quantity of labor supplied because at this wage more labors wants to work and take the advantage of the higher wages.
At the same time, quantity demand for labor decreases in the economy. This is due to the higher wages which increases the firm's cost of production. So, at this wage firm's demand for labor decreases.
Answer:
The correct answer is A
Explanation:
Price floor, also referred to as the minimum price, which is described as the lower limit placed by the regulatory authority or the government on the price which is per unit of the product or the commodity.
Non- binding price floor, means that the price floor is less than the present price of the market, and the equilibrium price will be more or above the price floor.
So, when the price floor is not binding, then the market will be shortage or less than from the present price.
Answer:
1 bushel of corn
Explanation: Opportunity cost may be explained as the potential loss incurred by opting to go for an alternative option.
If it takes 2 acres of land to grow 200 bushels of corn
4 acres of land to grow 200 bushels of beans, then opportunity cost of one bushel of beans is:
Opportunity cost = (Return on best option not chosen - return on the option chosen)
Opportunity cost of one bushel of beans :
200 bushel of corn = 2 acres
I bushel of corn = (2/200) = 0.01 acres
200 bushel of beans = 4 acres
1 bushel of beans = (4/200) = 0.02 acres
0.02 acres used to grow 1 bushel of beans would have been used to produce 2 bushel of corn
Therefore opportunity cost = (2 - 1) = 1
