The Members of Congress Are

question 43

Multiple Choice

The members of Congress are

• A) representative of the voting public in terms of income.
• B) representative of the voting population in terms of race.
• C) not representative of the voting population in terms of gender.
• D) not representative of the voting population in terms of political viewpoint.
• E) All of the above are true.

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Definitions:

Insurance

A monetary service that offers coverage against possible future harms or losses in return for a premium payment.

Adverse Selection

Adverse selection is a situation in financial markets where there is asymmetric information leading buyers or sellers to make decisions that can result in the market becoming skewed or unbalanced, often seen in insurance markets.

Insurance

A contract represented by a policy, where an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Risk Averse

A description of an individual's or entity's preference to avoid risk, often by choosing options with certain outcomes over those with higher degrees of uncertainty.