The Patient Protection and Affordable Care Act (PPACA) attempts to provide health-insurance coverage to low-income people through the following, except:
A. Establishing a new government insurance system specifically for the poor
B. Requiring large employers to cover all their employees including the poor
C. Expanding the Medicaid system to cover those whose incomes are less than 133% of the poverty level
D. Providing subsidies to purchase health insurance to those who must buy insurance coverage on their own
A. Establishing a new government insurance system specifically for the poor
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A recession occurs only if there are two consecutive quarters of declining real GDP
a. True b. False
Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the question.
The price at which total revenue is maximized is $________.
A. 10 B. 20 C. 30 D. 15 E. 25
Consider the demand curve below. If area 0ABC is smaller than area 0DEF, we may conclude that demand in this range is:
A. Price-inelastic
B. Income-inelastic
C. Price-elastic
D. Income-elastic
Over the last 30 years, the income gap between the rich and the poor has declined.
Answer the following statement true (T) or false (F)