Which of the Following Is True of Renter's Insurance

question 109

Multiple Choice

Which of the following is true of renter's insurance?

• A) You only need to buy it if you have possessions of considerable value.
• B) It will not cover your liability if a picture falls off the wall and injures a guest in your apartment.
• C) Your renter's insurance covers only your own property, not the property of your landlord.
• D) Because premiums are small, most people who need it have renter's insurance.

Comprehend the mechanics of futures contracts and calculate profit or loss from futures trading.

Understand the regulatory framework and insurance for financial instruments.

Recognize the importance and role of key financial rates and benchmarks in global finance.

Distinguish between different global stock market indices and their geographical relevance.

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Definitions:

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are close substitutes, leading to price competition.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefits to society.

Benevolent Social Planner

A hypothetical figure in economics who makes decisions aimed at achieving the best possible outcomes for society overall, considering both efficiency and equity.

Market Power

The ability of a firm or group of firms to significantly control or influence market prices, often due to lack of competition.