When Morty leased his new car, he was required by law to to of financial loss caused by a vehicle collision.

A. pledge collateral; reduce the chance
B. pay extra for a warranty; eliminate the risk
C. purchase insurance; reduce the risk
D. receive a free service contract; eliminate any chance

C. purchase insurance; reduce the risk

Explanation:

When Morty leased his new car, he was required by law to purchase insurance_ to__reduce risk__ of financial loss caused by a vehicle collision.

Insurance aims at protecting people against losses, damage, injuries, and costs associated with unforeseen events. individuals like Morty need to buy insurance to protect himself or reduce against the uncertainties that comes with financial loss that comes with vehicle collision.

answer/// real gdp decreases to y3 and the price level falls to p3;