Question

1. According to the Bureau of Labor​ Statistics, a person who is selfminusemployed is considered
A.unemployed.
B.employed.
C.not in the labor force.
D.a discouraged worker.

2. Employment protection laws make it​ ________ for firms to hire​ people, which can result in​ a(n) ________ in the number of people who are structurally unemployed.
A.less​ risky; decrease
B.more​ risky; increase
C.less​ risky; increase
D.more​ risky; decrease

3. The health care system in Canada is referred to as​ ________, and is a system in which the provincial governments provide national health insurance to all Canadian citizens.
A.a singleminuspayer system
B.a universal health insurance system
C.socialized medicine
D.a private health care system

4. With respect to the insurance​ market, what is adverse​ selection?
A.Adverse selection refers to the situation in which a person purchasing an insurance policy takes advantage of knowing more about his health than the insurance company knows.
B.Adverse selection refers to people who purchase one type of insurance policy when they would have been better off purchasing a different policy.
C.Adverse selection refers to the actions people take before they purchase an insurance policy.
D.Adverse selection refers to the actions people​ take, after they purchase an insurance​ policy, that make the insurance company worse off.

Answer 1

1) Solution: employed

Explanation: A self-employed (working in their own profession, business, or farm) are considered as employed by Bureau of Labor​Statistics

2) Solution: more​ risky; increase

Explanation: The employment-protection laws makes difficult for firms to hire thus also increases the structural joblessness

3) Solution: universal health insurance system

Explanation: Canada's universal health insurance coverage system is a publicly funded health-care system

4) Solution: Adverse selection refers to the situation in which a person purchasing an insurance policy takes advantage of knowing more about his health than the insurance company knows

Explanation: Adverse selection is an issue where the buyers of insurance have more information in regard to whether they are low-risk or high-risk than the insurance company does.