Which of the Following Is Not Correct

question 42

Multiple Choice

Which of the following is not correct?

• A) Renter's insurance is important if you own an expensive TV and game center.
• B) Renter's insurance covers your possessions and provides liability coverage for you.
• C) Your auto insurance policy will cover valuable possessions if you keep them in your garage with your car.
• D) Renter's insurance does not cover the structure of your apartment or rental home.

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Definitions:

Substitution Effect

The economic understanding that as prices rise or incomes decrease consumers will replace more expensive items with less costly alternatives.

Hourly Wages

The amount of earnings paid to an employee for each hour worked.

Fringe Benefits

Additional benefits, beyond a salary, offered to employees, such as health insurance, retirement plans, and paid time off.

Minimum Wage

The lowest remuneration that employers can legally pay their workers—the rate may be set by national government or by a state or local government.