Which of the following is an individual mandate in the federal government's new national health
care program?
A) Under the new program, the federal government will coordinate the establishment of health insurance exchanges.
B) Firms with at least 50 employees must either provide health insurance or pay fines when uninsured employees receive tax subsidies to purchase insurance.
C) A tax rate of 3.8 percent will be assessed on nearly all earnings above $200,000 per year forindividuals and above $250,000 per year for married couples.
D) Nearly all U.S. residents must either purchase health insurance coverage or pay a fine of up to $750 per year for an individual (up to $2,250 per year for a family).
Answer: D
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The above figure shows the market for finish carpenters in Bozeman. There is a minimum wage set at $18
Compared to the initial equilibrium without the minimum wage, once the minimum wage is in place, and after taking account of job search, the total workers' surplus ________ and the total firms' surplus ________. A) decreases; increases B) increases; increases C) increases; decreases D) does not change; increases E) decreases; decreases
The slope of a negative relationship is
A) negative. B) undefined. C) positive to the right of the maximum point and negative to the left. D) constant as long as the relationship is nonlinear.
Suppose the inverse demand curve for good A is given by the equation P A = 10 - Q A /10, and the supply curve is perfectly elastic (horizontal) at $1. Good A is presently taxed at $2 per unit. Good B (which is independent of good A) has an inverse demand curve, P B = 5 - Q B /20, and is also perfectly elastic at $1. Good B is untaxed.
(A) How much tax revenue is collected and what is the excess burden of the $2 tax on A? (B) How much revenue is collected if the tax on good A is reduced to $1 per unit and good B is taxed at $1 per unit? (C) What is the total excess burden of taxing both goods at $1 per unit? (D) Which tax system is preferable from the point of view of economic efficiency?
Which of the following statements is true? a. The intention of a minimum wage is to raise the wage rate for the skilled workers
b. The lowest of the federal or state minimum wage levels prevails in each state. c. The federal minimum wage, in the United States, is followed by all the states as their minimum wage. d. The minimum wage has the greatest impact on the unskilled labor market. e. The minimum wage has the greatest impact on the skilled labor market.