Continuing with the same vacation-insurance company from the preceding question, is there any vacation-day price that would both strictly increase the family's expected utility (compared to no insurance) and strictly increase the profits of the risk-neutral insurance company?
a. No.
b. Yes, 3 or 4.
c. Yes, 4.
d. Yes, 4 or 5.
Question 2
Which of the following statements is true about the Medicaid program?
a. Eligibility standards are uniform across states.
b. The program is totally funded by federal tax revenues.
c. Everyone in the poverty-level population is eligible for benefits.
d. About 20 of total outlays are for nursing home and home health care for the elderly.
e. All of the above are true.
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