Question

Please answer ASAP

QUESTION 36 An outward shift in demand is called an increase in demand. True False

QUESTION 35

1. Strictly speaking, the price of insurance is the pure or actuarily fair premium.

   True

   False

QUESTION 6

1. The acceptance by physicians of Medicare assignment relieves patients from the financial risks associated with higher physician fees.

   True

   False

QUESTION 34

1. If the government increases taxes, the producer would need to receive a higher price for each unit produceD

   True

   False

QUESTION 33

1. The first known health insurance in the United States was implemented by the Granite Cutters Union.

   True

   False

QUESTION 31

1. As the magnitude of the possible loss increases, the amount of money the individual is willing to pay to avert the possible loss increases.

   True

   False

QUESTION 32

1. The positive relationship between wages and work time measures what is called

   	A.	The substitution effect of income for leisure
   	B.	The substitution effect of leisure for income
   	C.	The income effect of income for leisure
   	D.	The income effect of leisure for income

QUESTION 39

1. A horizontal demand curve reflects the condition that individuals will still demand and pay for the same quantity of healthcare services as prices increase.

   True

   False

Answer 1

1. True .An outward shift in demand curve indicates increase in demand due to income change,taste of the consumer, etc.

2.The price of insurance is fair it's premium.It is a true statement because the price of the insurance is fair when it gives compensation equal to the premium paid .

3. True. Because medical insurance policies always relieve the patients from unexpected medical expenses...

4.True. because high taxation by government increase the price of raw materials in the market. So the producer need to get high price for his commodity to manage the production.

5..False .The first known insurance was devised by Justin Kimble,the administrator of Baylor university hospital for people to pay hospital care.

6.True .This is the ultimate reason for insurance policies to avoid possible significant damage and losses.