Answer the following statements true (T) or false (F)
1. The Patient Protection and Affordable Care Act (PPACA) bans the previous practice of insurance companies to deny coverage based on preexisting conditions.
2. One way that the Patient Protection and Affordable Care Act (PPACA) hope to foster competition among health insurance companies is through so-called insurance exchanges.
3. The Patient Protection and Affordable Care Act (PPACA) will set up so-called insurance exchanges where consumers can compare various insurance policies that meet certain government-set standards.
4. One of the taxes included the Patient Protection and Affordable Care Act (PPACA) to generate revenue is a tax on junk food.
1. T
2. T
3. T
4. F
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In 2000, you could buy a Cadillac DTS for $45,000. In 2011, the Cadillac DTS sold for $55,000
While both models include anti-lock brakes and air bags (along with other similar features), the 2011 model also includes satellite radio and new technology that provides improved gas mileage and safer driving. If the Cadillac DTS was included in the CPI basket, it would create A) a downward bias in the inflation rate. B) an upward bias in the CPI as a result of quality change bias. C) an upward bias in the CPI as a result of commodity substitution bias. D) a downward bias in the CPI as a result of new goods bias.
For a single-price monopolist to sell one more unit of a good, it must
A) lower the price on just the last unit sold. B) lower the price on all units sold. C) raise the price on just the last unit sold. D) raise the price on all units sold.
Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year's grape harvest. What happens in the California wine market as a result of this announcement?
A) The demand curve for California wine shifts to the right in anticipation of higher prices in the future. B) The demand curve for California wine shifts to the left in anticipation of higher prices in the future. C) The supply curve for California wine shifts to the left in anticipation of lower quantities in the future. D) The supply curve for California wine shifts to the right in anticipation of higher prices in the future.
Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations
A) the same as B) higher than C) lower than D) more variable than