The lifetime maximum is the
A. most of covered expenses that an individual will have to pay during a year.
B. percentage of a covered expense that an individual will have to pay (after the deductible is met).
C. percentage of a covered expense that an insurance company will have to pay (after the deductible is met).
D. most of covered expenses that an insurance company will pay on an individual over their lifetime. It was made illegal by the PPACA.
Answer: D
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Refer to Sales Tax. The portion of the tax revenue ultimately paid by consumers is
a. area A + B + C + D. b. area C + D. c. area C + D + E. d. area A + B + C + D + E.
An increase in capital brings a large increase in output at a ________ quantity of capital and a small increase in output at a ________ quantity of capital because of ________
A) large; small; the greater the quantity of capital the greater the output B) small; large; diminishing returns along the productivity curve C) large; small; diminishing returns along the productivity curve D) small; large; increasing returns along the productivity curve E) large; small; increasing returns along the productivity curve
When economists say that market equilibrium is consistent with economic efficiency, they mean
a. the total gains from trade (the combined area of producer and consumer surplus) are smaller than potentially could be the case at a different price and quantity. b. all units creating more benefit than cost have been produced. c. some units have been produced that cost more than the benefits they create. d. consumers and producers have made decisions without properly taking into account the market price.
________ is the human resource that organizes labor, land, and capital
A) Human capital B) Human skill C) A gift of nature D) Entrepreneurship E) Profit