Which One of the Following Would Be Your Best Selection

question 84

Multiple Choice

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

• A)a basic plan combined with a major supplementary plan
• B)combined dental and vision plan
• C)dread disease and cancer plan
• D)long-term care
• E)accident

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Definitions:

Economic Choices

Decisions made by individuals, households, or firms regarding the allocation of scarce resources to satisfy needs and wants.

Income Tax

A tax levied by governments on individuals or entities' income, constituting a major source of government funding.

Present and Future Consumption

The concept of analyzing and balancing what is consumed today against what will be available or necessary for consumption in the future.

Efficient Taxation

A taxation system designed to minimize the economic costs or distortions that it imposes on society, while achieving desired revenue and distributional effects.