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Which of the following statements about adverse selection is most correct? Question 19 options: 1) Adverse...

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Economics

Which of the following statements about adverse selection is most correct? Question 19 options: 1) Adverse selection means those individuals with greater health risk are more likely to purchase health insurance. 2) The adverse selection problem exists because of asymmetric information (applicants have better knowledge of their health status than insurers have). 3) Historically, underwriting provisions were used to minimize the adverse selection problem. 4) Statements a. and b. are both correct. 5) Statements a., b., and c. are all correct.

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