A contract under which a buyer agrees to make payments in exchange for the provider agreeing to pay some or all of the buyer's medical bills is referred to as
A) a fee-for-service plan. B) health insurance.
C) the Affordable Care Act. D) a deductible.
B
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A private subsidy has what effect on the amount of a good or service produced? Is a subsidy an appropriate policy to offset the inefficiency from an external cost or an external benefit?
What will be an ideal response?
If a principle is reducing agency costs by gathering information about the agent's actions, he is most likely trying to solve the problem
a. Adverse selection b. Moral hazard c. Both of the above d. None of the above
When a good is taxed, the burden of the tax
a. falls more heavily on the side of the market that is more elastic. b. falls more heavily on the side of the market that is more inelastic. c. falls more heavily on the side of the market that is closer to unit elastic. d. is distributed independently of relative elasticities of supply and demand.
Which one of the following is an example of discretionary fiscal policy used to correct a recessionary gap?
A. an increase in the money supply by the Federal Reserve B. a decrease in government expenditures approved by Congress C. a tax decrease passed into law by Congress D. an agreement among major banks to raise interest rates