Question

In: Economics

1. The problem that insurance displays is the _______________ where their is a separation between the...

1. The problem that insurance displays is the _______________ where their is a separation between the person paying the and the person demanding.

a. Principle Problem

b. lack of the law of Demand

c. Comparative Advantage Problem

d. Principle Agent Problem

2. In order for the pre-existing conditions waiver to work (that is that insurance companies can't deny coverage for pre-existing conditions) the ACA designers had to

a. subsidize the insurance companies for the length of the insured lives

b. none of the above

c. create an insurance mandate

d. all of the above

e. create subsidies for the uninsurable

Solutions

Expert Solution

Answer 1:

Option d. The insurance displays the problem of Principal Agent because there is separation between the person paying and the person demanding.This creates principal agent problem.

Answer 2:

Option d. In order for the pre existing waiver to work, the designers had to subsidize the insurance companies for the length of the insured lives,create an insurance mandate and create subsidies for the uninsurable.

Rahul Sunny answered 2 years ago
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