Except

question 83

Multiple Choice

except:

• A)benefits based on hours rather than weeks worked.
• B)benefit eligibility for self-employed people.
• C)a family income supplement top-up for low income families.
• D)reduction in the minimum benefit entitlement period.
• E)collection of premiums based on first dollar earned.

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Definitions:

Adverse Selection

A situation in which asymmetric information results in high-quality goods or high-quality consumers being squeezed out of transactions because they cannot demonstrate the quality of the product they are offering for sale.

Fair Bet

A wager in which the expected value to both parties involved is equal; no side has an advantage.

Standard 52-card Deck

A common set of playing cards used for a variety of games, consisting of four suits with thirteen ranks each.

Decreasing Slope

A downward trend on a graph indicating that one variable decreases as another variable increases.