A Party Must Own Property to Have an Insurable Interest

question 75

True/False

A party must own property to have an insurable interest in it.

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Definitions:

Gross National Income Per Capita

The total domestic and foreign output claimed by residents of a country, divided by the population of the country.

Net Domestic Product Per Capita

A measure of a country's economic output per person, excluding the costs of depreciation of capital goods. It gives an indication of the average standard of living and economic well-being of the population.

Command-based Economy

An economy where production, investment, prices, and incomes are determined centrally by a government.

Gini Coefficient

A measure of the distribution of wealth within a country.