The perfect storm of factors that contributed to the economic crisis of 2007 include
A) agency costs, inefficient markets, and perfect capital markets.
B) poorly chosen mortgage loans, falling housing prices, and a contracting economy.
C) financial deregulation, unchecked commodity prices, floating currency exchange rates.
D) increases in the minimum wage rate, unchecked illegal immigration, and state government
deficits.
Question 2
Janet was unable to obtain auto insurance in the voluntary insurance market. She was contacted by the state insurance department and notified that XYZ Insurance would be her insurer.
The mechanism used in Janet's state to provide auto insurance to high-risk drivers is a(n)
A) automobile insurance plan.
B) joint underwriting association.
C) specialty automobile insurer.
D) reinsurance facility.
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