You backed over your neighbor's Harley Davidson, and you don't have insurance. Your neighbor is legally permitted to sue you for the damage, but instead agrees not to sue you if you pay him $12,000.

Q: Auto insurance can protect you while you are walking on the street or riding a bicycle. True or…

A: Insurance is a kind of financial risk management.It's a kind of risk management that's mostly…

Q: What are some strategies for reducing adverse selection in insurance markets? What sorts of problems…

A: The problem of adverse selection occurs when one party has more information than the other party.…

Q: George Akerloff focused the market for used cars and discussed an issue later generally called the…

A: In the year of 1970, a behavioral economist, George Akerloff published a paper "The Market for…

Q: Do teachers face a conflict of interest when “certifying” their students? What steps can schools and…

A: Teaching to the test may be a significant issue in class . Standardized tests often certify the…

Q: You have a prescription drug insurance plan with a $500 deductible, 25% coinsurance after the…

A: Deductible=$500 Coinsuarance=25% Out of pocket maximum= $1250 total bill=$2075

Q: Jerry had been drinking all evening at the Bonger Bar and became visibly intoxicated. The bartender…

A: Answer and explanation according to the situation described in the Question above :-

Q: Why is the permit needed for all the agencies?

A: The permits are a different form of license issued by the government to every business in the…

Q: Suppose you work in a police station or a law firm and signed a confidentiality agreement regarding…

A: A confidentiality agreement is an agreement between two or more people that decides to not disclose…

Q: How does the tort of conversion of personal property differ from trespass to personal property?…

A: Trespass is essentially a violation committed against the real possessor, hence it cannot be…

Q: How would you analyze the crime related information  that the police haveif you had access and what…

A: Introduction: In layman's terms, a crime is any criminal conduct penalized by the state or another…

Q: Suggest a relevant government policy that would help with tax dodgers

A: Tax evasion is when a person or company intentionally avoids paying their true tax burden. Those who…

Q: Result of a market failure

A: The market failure refer to phenomena when the market does not behave as it is expected to behave…

Q: A side effect of an action that adversely affects is third party is called a

A: An externality is a cost or benefit caused by the manufacturer that is incurred or received by their…

Q: how does the control environment relate to audit planning? Explain clearly, concisely and briefly.

A: The control environment is the foundation of a good system of control. The control environment is…

Q: Explain the nature and consequences of asymmetric information in a market for used appliances.…

A: Asymmetric information: It refers to defective information. Specifically, it happens when one party…

Q: how would the adverse selection problem arise in the insurance market? How is it like the lemon used…

A: The adverse selection problem arises because of asymmetric information. Adverse selection is a…

Q: Which of he following sections of an insurance contract limits coverage? A.Waiver of Premium…

A: An insurance contract is an agreement between two parties, one of whom is known as the insurer and…

Q: Write a 1000 word essay on Gun Violence.

A: Gun-related violence will be violence dedicated with the utilization of a gun (firearm or little…

Q: A person may be considered negligent if they fail to do what a reasonable and prudent person would…

A: Negligence is the most widely recognized of misdeed cases. At its center Negligence happens when a…

Q: Commercial agencies are types of commercial professions that facilitate business transactions. True…

A: Commercial agencies are actually like service professionals that assist in business operations.

Q: What is the impact of compromising certainty in the interest of justice? Are there particular…

A: There are many contracts in the economy which acts as the key agreements between the partners in the…

Q: A car insurance company will give a discount to safer drivers. To get the discount, the car…

A: Given the situation, its a usual tendency for people buying insurance to behave carelessly as they…

Q: Pollution taxes

A:

Q: What is overconsumption doing to our health?

A: The economies around the globe operate with the help of actions, and activities done by various…

Q: Match the situation with its most appropriate label. Use each answer only once. Only sick people…

A: Asymmetric information refers to the market condition where buyers and sellers are not equally…

Q: Your U.S. corporation sold office supplies to the government of Country A who then refuses to pay…

A: The aforementioned statement is true.

Q: The government can force you to sell your personal residence to them for fair market value…

A: Answer - The law of eminent domain comes Under the "Taking clause " of the fifth amendment  .  which…

Q: You have just received a report suggesting that a chemical your company uses in its manufacturing…

A: If a concerned authority is asked to check a report regarding a chemical that is dangerous that can…

Q: James has two young children (Finn and lain) who are visiting the doctor for their annual well-child…

A: $0 As well child check ups are 100% covered by the health insurance, James does not have to pay…

Q: All proceedings designed to satisfy procedural due process requirements must provide notice and an…

A: As per the procedural due process, it states that all the procedural due process are designed in a…

Q: Cost-sharing is used to combat moral hazard at the expense of equity. True False

A: The share of costs covered by your protection that you pay out of your own pocket. This term for the…

Q: You want to travel to Las Vegas to celebrate spring break and your "A" in your microeconomics class!…

A: Considering the two situation given the saving in time would be 10-5=5 hours. Looking at the extra…

Q: What is critical thinking and explain how it could be helpful for you as a student in Criminal…

A: Critical thinking is the ability to think clearly and rationally while also comprehending the…

Q: An insured’s $3,000 outboard motorboat is struck by lightning. Under the insured’s homeowner policy…

A: Below is the given information: The sum insured for motorboat = $3000