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Which of the following statements about a calendar-year deductible is (are) true?
I.It requires the insured to pay a specified amount of each claim regardless of when the claim occurs during the year and regardless of any previous claims during the year.
II.It is used only in policies which cover direct property losses.
Marginal Cost
The increase in total cost that arises from producing one additional unit of goods or services.
Consumer Demands
The quantity of goods and services that consumers are willing and able to purchase at various prices during a specified time period.
Annual Memberships
Subscription-based memberships that are renewed on a yearly basis, often granting access to specific services or benefits.
Purchase Books
The act of buying books, typically for personal reading, study, or for adding to a collection.
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