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True [87]
3 years ago
14

Assume you have a property insurance contract which includes an 80% coinsurance provision. The insured building is worth $5,000,

000 and you bought $3,000,000 worth of coverage. If you suffered an insured loss of $2,000,000, how much would you expect from the insurer?
Business
1 answer:
BaLLatris [955]3 years ago
3 0

Answer:

$1,500,000

Explanation:

in order for the insurance company to pay for all the damages, you should have purchased a policy that covered $4,000,000 in damages. Since the policy only covers $3,000,000, the insurance company will pay:

($3,000,000 / $4,000,000) x $2,000,000 (loss) = 0.75 x $2,000,000 = $1,500,000

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A(n) , or trading bloc, is a regional group of countries with a common external tariff, no internal tariffs, and coordinated law
taurus [48]

A common market, also known as a trade bloc, refers to a group of countries that have a common external tariff, to favor both in different areas, such as social and economic.

<h3 /><h3>Common market definition</h3>

It is necessary that some requirements are satisfied so that there is a common market between countries, which are, the elimination of tariffs on the import and export of goods and services.

There is also the free movement of goods, capital, services and labor between member countries, as well as the common adoption of trade restrictions to countries outside the group. An example of a common market is the European Union.

Therefore, the common market or trading bloc corresponds to a formal agreement between countries generating greater efficiency, economies of scale, increased innovation and the capacity for economic growth.

The correct answer is:

  • Common market

Find out more information about common market here:

brainly.com/question/757709

5 0
2 years ago
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this
Ilia_Sergeevich [38]

Answer:

In 2012, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a mandarin was $3.00. Which of the following give the nominal value of a variable? Check all that apply.

  • <u>The price of a mandarin is $3.00 in 2012.</u>

Nominal values are expressed in terms of current money. real variables are represented in terms of other goods or services.

Which of the following give the real value of a variable? Check all that apply.

  • <u>The price of a paperback novel is 3 mandarins in 2012.</u>

Nominal values are expressed in terms of current money. real variables are represented in terms of other goods or services.

Suppose that the Fed sharply increases the money supply between 2012 and 2017. In 2017, Eleanor's wage has risen to $54.00 per hour. The price of a paperback novel is $18.00 and the price of a mandarin is $6.00. In 2017, the relative price of a paperback novel is <u>still 3 mandarins</u>.  

Between 2012 and 2017, the nominal value of Eleanor's wage <u>doubled</u>, and the real value of her wage <u>remained constant</u>.

Monetary neutrality is the proposition that a change in the money supply <u>affects</u> nominal variables and <u>does not affect</u> real variables.

4 0
3 years ago
Parwin Corporation plans to sell 30,000 units during August. If the company has 11,500 units on hand at the start of the month,
raketka [301]

Answer:

Production = 31000 Units

Explanation:

To calculate the production requirement for the month of August to meet the required sales and desired ending inventory, we will use the following formula,

Sales = Opening Inventory + Production - Closing Inventory

Plugging in the values we have for sales, opening inventory and closing inventory, we calculate the production to be,

30000 = 11500 + Production - 12500

30000 + 12500 - 11500 = Production

Production = 31000 Units

6 0
3 years ago
Choose the correct statement. A. Income tax creates a deadweight loss in the markets for capital and labor. B. Income tax is a t
mixer [17]

Answer:

The correct answer is option A.

Explanation:

Income tax is a tax imposed by the government on the income earned by the individuals. This income can be from capital and labor. It creates a deadweight loss in the market for labor and capital.

Deadweight loss is the loss to economic efficiency and production caused by a tax. The imposition of a tax creates a tax wedge, this tax wedge leads to a deadweight loss. Deadweight loss due to income tax is the loss of purchasing power or reductions standard of living due to tax.  

The inefficiency or tax burden depends upon the elasticities of demand and supply. Whoever has the least elasticity will share most of the tax burden.

7 0
3 years ago
Wildhorse Co. took a physical inventory on December 31 and determined that goods costing $198,500 were on hand. Not included in
timofeeve [1]

Answer:

$249,500

Explanation:

Calculation for the amount that Sheridan should report as its December 31 inventory

Using this formula

December 31 inventory=Goods costing+Goods purchased +Goods sold

December 31 inventory=$198,500+$25,000+$26,000

December 31 inventory=$249,500

Therefore the amount that Sheridan should report as its December 31 inventory will be $249,500

8 0
2 years ago
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