Physicians who agree to accept Medicare's approved payment as full payment are participating providers. Non-participating providers are allowed to balance bill their patients. What does this mean?
a. The physician balances their usual fee equally between Medicare and the patient.
b. The patient must pay the entire bill without the assistance of Part B insurance.
c. The physician has a guarantee that the patient will pay the balance of the bill left after Medicare pays its approved fee.
d. Non-participating physicians can bill the patients the difference between their usual fees and the amount Medicare actually pays (not to exceed 15 percent of the allowable fee)
d. Non-participating physicians can bill the patients the difference between their usual fees and the amount Medicare actually pays (not to exceed 15 percent of the allowable fee)
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As the price of computers falls, the quantity of computers demanded increases. This is an application of:
A. the production possibilities curve B. the law of demand C. the law of supply D. needs versus wants
Suppose that the income tax in the United States was such that all households had to pay 20 percent of their income to the government as taxes. This tax is an example of
A) a regressive tax. B) a proportional tax. C) a progressive tax. D) an efficient tax.
Financial intermediaries are able to exploit economies of scale since
A) the equipment or expertise necessary for one transaction can be applied to other transactions. B) they have special licenses needed to perform financial transactions. C) financial markets fail to do so. D) they can reduce transactions cost, but not information costs.
Jennifer learns that the price of CDs will be going up 10 percent next week. She usually buys three CDs per week. What happens to Jennifer's demand for CDs this week?
a. It does not change because only quantity demanded changes when price changes. b. It increases because the price will be lower next week. c. It decreases because the price will be higher next week. d. It increases because the price will be higher next week. e. It decreases because the price will be lower next week.