Some Insurers Are Experimenting with the Use of an Electronic

question 45

Multiple Choice

Some insurers are experimenting with the use of an electronic device that can be installed in a vehicle to track driving behavior.The insurers then use the information to help determine the appropriate auto insurance premium to charge.Such devices are called

• A)data recorders.
• B)radar detectors.
• C)original equipment manufacturer parts.
• D)thresholds

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Definitions:

Indifference Curves

Graphical representations in economics showing different combinations of goods or services among which a consumer is indifferent, demonstrating preferences.

Optimal Choice

The best possible decision or selection made from a set of alternatives, given the constraints and objectives at hand.

Hot Dog Buns

Baked goods specifically designed to hold and serve hot dogs.

Budget Line

A depiction in graphic form of every achievable combination of two commodities that can be acquired based on a specified financial capacity and pricing.