Of the Following Are Time Periods That the U

question 101

Multiple Choice

of the following are time periods that the U.S.economy experienced a period of recession EXCEPT:

• A) 1973−1975
• B) 1981−1982
• C) 1990−1991
• D) 2007−2009
• E) 2010−2011 (as of late-2011)

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Definitions:

Adverse Selection

A situation where uneven information leads to transactions between parties where one party has more or better information than the other, often seen in insurance markets.

Occur

To happen or take place, referring to events or phenomena.

Adverse Selection

A situation in which one party in a transaction has more information than the other, often leading to an imbalance in which high-risk individuals are more likely to select and benefit from certain agreements, policies, or products.

Health Insurance

An insurance policy that covers costs related to medical and surgical treatments for the policyholder.