A Firm Offers Routine Physical Examinations as Part of a Health

question 1

Multiple Choice

A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes,15% needed major dental work,and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work?

• A)0.20
• B)0.25
• C)0.50
• D)1.00

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Definitions:

Direct Payments

Cash transfers from government to individuals or businesses, often used to provide subsidies, welfare benefits, or to stimulate economic activity.

Countercyclical Payments

Government payments or subsidies, especially in agricultural policy, that increase when market prices are low and decrease when they are high, aiming to stabilize income.

Targeted Prices

Pricing strategies that aim specifically at certain segments of the market to maximize profitability and market share.

Import Quotas

Restrictions set by a country on the quantity of specific goods that can be imported within a given timeframe, aimed at protecting domestic industries.