Which of the Following Statements Is True About Flood Insurance

question 71

Multiple Choice

Which of the following statements is true about flood insurance?

• A)It is covered under homeowners policies.
• B)It provides coverage for structures and personal property or contents on a replacement cost basis.
• C)It is provided automatically to flood-prone areas, but provided only on specific request to flood-immune areas.
• D)It offers replacement coverage for contents.
• E)Once a flood rate map is completed, a second, or regular, layer of coverage is available at subsidized rates rather than actual rates.

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Apply concepts of identity recognition and esteem within the context of contemporary social movements using Axel Honneth's theory.

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Definitions:

Cross Elasticity

The extent to which the demand for a certain good alters in response to price changes of another good.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increased demand for the other.

Income Elasticity

A measure of how much the quantity demanded of a good changes in response to a change in consumers' income.

Demand Inelastic

When the quantity demanded of a good or service is relatively unchanged in response to price changes.