Which of the Following Is Indicated by the Data on Real

question 17

Multiple Choice

Which of the following is indicated by the data on real income per person for various countries over the past 100 or so years?

• A)If,in a relatively poor country,real income per person had grown by 3.5 percent per year for the last 100 years,it would be a relatively rich country today.
• B)Rich countries became richer and poor countries became poorer.
• C)In the United States,real income per person today is about four times as high as it was 120 years ago.
• D)All of the above are correct.

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Definitions:

Lapse Policy

A situation where an insurance policy becomes inactive because premiums have not been paid.

Insurance Policy

A contract between an individual or entity and an insurance company, detailing the terms and agreements in which the insurer agrees to pay the insured for specific loss, damage, illness, or death in return for payment of a premium.

Interim Coverage

Temporary insurance protection provided between the application and the actual issuance of a policy.

Fraudulent Concealment

The act of deliberately hiding or omitting relevant information or facts with the intent to deceive or defraud.