Match the Term with Its Definition

question 111

Essay

Match the term with its definition.Some terms may not be used.
a.Actual cash value
b.Aggregate stop loss limit
c.Direct loss
d.Disability buyout insurance
e.Disability insurance
f.Indirect loss
g.Loss avoidance
h.Loss prevention
i.Loss reduction
j.Replacement value of property
k.Specific stop loss limit
-A comprehensive limit on annual expenses should a number of employees reach the firm's per-employee limit on self-funding for medical claims

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Definitions:

Base Year

A specific year against which economic growth is measured, serving as a standard comparison for other years in index numbers and price comparisons.

Real GDP

The measure of a country's economic output adjusted for price changes, such as inflation or deflation, giving a more accurate depiction of an economy's size.

GDP

The total value of goods and services produced over a specific period in a country, known as Gross Domestic Product, reflects its economic productivity.

GDP Deflator

An index that measures the level of prices of all new, domestically produced, final goods and services in an economy.