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Ken purchased a PAP with liability limits of 100/300/50,medical payments coverage,and collision coverage.Ken fell asleep while driving late at night.He crossed the center line and hit a car approaching from the other direction.The following losses occurred:
-The driver of the other car suffered $30,000 in bodily injuries.
-Ken's car sustained $5,000 in damages.
-Ken incurred $5,000 in medical expenses.
-The car that Ken hit was a total loss.
Which of Ken's Personal Auto Policy (PAP) coverages will cover the other driver's medical expenses?
Specialization and Exchange
The economic strategy where individuals or groups focus on the production of limited kinds of goods to trade for other goods.
Net Exports
The value of a country's total exports minus its total imports; a positive number indicates a trade surplus, while a negative number indicates a trade deficit.
GDP
The measure of all goods and services produced to their final stages within the confines of a country, valued in market or monetary terms over an identified period, defines the Gross Domestic Product.
Joseph Stiglitz
An American economist and a professor at Columbia University, known for his critical view on the management of globalization and neoliberal policies.
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