Which of the Following Are Both Correct

question 8

Multiple Choice

Which of the following are both correct?

• A)Data show no correlation between saving and measures of economic well-being.A reduction in tax rates may reduce saving because of the income effect.
• B)Data show no correlation between saving and measures of economic well-being.A reduction in tax rates may reduce saving because of the substitution effect.
• C)Data show a positive correlation between saving and measures of economic well-being.A reduction in tax rates may reduce saving because of the income effect.
• D)Data show a positive correlation between saving and measures of economic well-being.A reduction in tax rates may reduce saving because of the substitution effect.

Comprehend the types and purposes of various insurance payments, such as premiums and co-payments.

Understand the application of insurance in different contexts, such as disability and commercial liability.

Grasp the concept of insurable interest and its requirement for making beneficiary claims.

Recognize how insurance policies can be cancelled or altered, including the relevance of specific clauses.

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Definitions:

Family-Friendly Policies

Work policies that accommodate employees' needs for a better work-life balance, such as flexible working hours or parental leave options.

Federal Law

Legislation passed by the national government of a country, which applies across all states and territories within that country.

Layoffs

The termination of employment for a group of employees, often due to economic downturns, organizational restructuring, or cost-cutting measures.

Outcome Fairness

A judgment that the consequences given to employees are just.