All of the following are part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (ACA) except
A) individuals were allowed to opt out of the insurance program if they could prove they had no serious health issues and did so before the act fully took effect in the year 2014.
B) in 2017, fines for not having health insurance are the greater of $695 per person or 2.5 percent of income.
C) individuals who do not acquire health insurance will be subject to a fine.
D) with limited exceptions, every resident of the United States will be required to have health insurance that meets certain basic requirements.
Answer: A
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The branch of economics that attempts to understand the outcomes observed in the public sector by examining the incentives faced by the individual actors involved (such as voters, politicians, and bureaucrats) is known as
a. private choice analysis. b. public choice analysis. c. government operations analysis. d. incentive analysis.
The profit-maximizing firm will be earning total revenue of about
A. $720
B. $556.
C. $400.
D. $650.
The players in a game theory situation often do not act in their joint interest because of which of the following?
A) They do not realize the benefit of cooperation. B) Players strive to minimize their opponents' profits. C) Players do not understand the game and its payoffs. D) It is not in each player's self-interest to cooperate. E) Players understand the game but they do not know which action(s) will benefit their joint interest.
"Knowing your customer" means:
A) knowing what factors affect customer choices. B) knowing the names of customers. C) knowing whether something is a fad or a fashion. D) knowing that people do not believe advertising. E) having an understanding of why price goes up or down.