A Type of Insurance That Protects Workers from Loss of Wages

question 13

Multiple Choice

A type of insurance that protects workers from loss of wages after an industrial accident that happened on the job is called

• A) an individual policy.
• B) workers' compensation.
• C) unemployment insurance.
• D) disability insurance.

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Definitions:

Perfectly Inelastic

A demand situation in which the quantity demanded does not change in response to a change in price.

Tax Incidence

The analysis of the effect of a particular tax on the distribution of economic welfare among entities in the economy.

Rational Choice Theory

An economic theory that assumes individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.

Public Interest

The well-being of the general public, often considered within the context of government policy-making.