Insurance companies use deductibles and copayments to:
A. increase access to health care.
B. reduce health care costs by discouraging overuse of the health care system.
C. prevent small companies from self-insuring their workers.
D. keep government out of the health care insurance industry.
Answer: B
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What term means an explosive and seemingly uncontrollable inflation in which money loses value rapidly and may even go out of use?
A) superinflation B) stagflation C) hyperinflation D) maginflation E) deflation
When a firm sells a given product at more than one price and the price difference is NOT caused by differences in cost then there is
A) price discrimination. B) price differentiation. C) price demarcation. D) price delineation.
Which of the following is true at the output level where diminishing marginal product first set in?
a. Both marginal product and marginal cost are at a minimum b. Both marginal product and marginal cost are at a maximum. c. Marginal product is at a maximum and marginal cost is at a minimum. d. Marginal product is at a minimum and marginal cost is at a maximum.
The firm can calculate all points on its total cost curve if it knows
a. its production function. b. the prices of inputs and of output. c. its average cost at its optimal output level. d. the prices of inputs and its production function.