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Increases and decreases in various types of accounts are listed below. In each case, indicate by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a credit and (b) whether the normal balance of the account is a debit or a credit.
Health Insurance
Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured, often including benefits for preventive care and health-related services.
Efficiency Loss
The loss of economic efficiency that occurs when the optimal allocation of resources is not achieved, often due to market failures or externalities.
Health Insurance
An insurance policy that covers or reimburses the policyholder for their medical and surgical costs resulting from sickness or injury.
Efficiency Loss
The economic cost arising when market transactions do not allocate resources in the most beneficial way for society, often manifesting in deadweight loss.
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