Answer:
An insurance contract, like the ISO policy Harry purchased, has certain additional characteristics other than those of typical valid contracts.
Explanation:
Which one of the following is true for Harry?
Select one
A. An insurance contract, like the ISO policy Harry purchased, has certain additional characteristics other than those of typical valid contracts.
B. Harry understands his policy is modular one, combining various coverage forms and other documents especially tailored to his needs.
C. Harry can rest assured that if his new car is a total loss, he can expect to make a profit while being restored to his pre-loss financial position
D. As the policy is a contract of utmost good faith, both his insurer and his agent are the parties expected to be ethical in their dealings with one another.
This question is very broad. It could be attributable to several factors, but mostly the increase in production costs.
Production costs could be transportation, resources, food, rent, basically anything that would go into making a product.
Answer: b. International trade allows a country to specialize in items that can be produced most efficiently in that country.
Explanation:
Adam Smith with his Absolute Advantage theory, David Ricardo and his Comparative Advantage theory and the Heckscher-Ohlin theories believed that goods should be purchased from Countries that are more efficient in producing said goods so that the resources in the buying country can be channelled towards producing the good that the country can produce efficiently as well.
They believe this to be the foundation of global trade and that each country stands to gain if they buy the goods they are less efficient at producing and sell the goods that they are more efficient at producing. This way resources are properly channelled in an Economy and both countries involved in the trade can achieve high Economic growth as they are utilising their resources efficiently.
Answer:
C. A rise in saving does not change aggregate demand.
Explanation:
Say's law states that the production of goods creates its own demand.
According to Say's law, in a money economy, a rise in saving does not change aggregate demand because total expenditure amount does not change, it only moves from consumption category to the investment category in equal proportion.
Also, disposable income stays constant and consumption decreases, while savings increases.
Savings = disposable income - consumption.
This was 4 years ago - 32 Michele - 35 Shelly
Now - Michele is 36, Shelly is 39
