Which of the Following Statements About the National Insurance Crime

question 6

Multiple Choice

Which of the following statements about the National Insurance Crime Bureau (NCIB) is/are correct?

• A) The National Automobile Theft Bureau was formed in 1912 and is the forerunner of NCIB.
• B) The NCIB is not a government organization.
• C) The NCIB assists in the identification of vehicles and helps educate law enforcement officers in investigative techniques of vehicle identification, fraud, and theft.
• D) All of the preceding are correct.

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Definitions:

Monopolistic Competitor

In market economics, a monopolistic competitor refers to a company operating in a sector filled with competitors, yet it has enough differentiation to have some control over its pricing.

Downward Sloping

A description of a curve or line that shows a decrease in one variable as another variable increases, commonly seen in demand curves.

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded by consumers.

Perfect Competition

Perfect Competition is a market structure characterized by a large number of small firms, identical products sold by all firms, no barriers to enter or exit the market, and perfect knowledge of prices and technology.