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Which of the following statements about group insurance underwriting principles is (are) true?
I.If a plan is contributory,100 percent of the eligible employees must be covered.
II.Employees should be allowed to determine their own level of benefits.
Isocost Line
A graph line that shows all combinations of inputs which cost the same total amount.
Capital
Financial assets or the financial value of assets, such as cash and goods, used to generate income or wealth.
Labor
The utilization of human physical and mental capabilities in the crafting of goods and delivery of services.
Price Of Labor
The compensation workers receive for their labor, typically in the form of wages or salaries.
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