Suppose you go to a doctor, but your health insurance plan reimburses you for only 80 percent of the bill. This is an example of:
A. a copayment.
B. a deductible.
C. monopsony power.
D. a deferred benefit plan.
Answer: A
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. The major reason education leads to higher wages is due to signaling. 2. Attending college can be seen as an individual’s attempt to raise their level of human capital. 3. Since mowing ones lawn is not done at their workplace, it is viewed as a use of their leisure time and thus (somewhat paradoxically) falls into the category of leisure. 4. One deficiency of labor-leisure indifference curve analysis is that because indifference curves are always tangent to the worker’s budget line, the model can not explain why some people choose not to work. 5. A firm’s marginal revenue product of labor equals the marginal product of labor times the cost per unit of the labor.
A firm's cost of variable inputs per unit of output is known as
a. average total cost b. average fixed cost c. marginal cost d. total variable cost e. average variable cost
The rate at which one input can be exchanged for another without altering output is called
A. the marginal rate of technical substitution. B. the slope of the total product curve. C. the law of diminishing returns of labor. D. the slope of the marginal product of labor.
Long-run macroeconomic growth
A. Moves the economy closer to the production possibilities curve. B. Shifts the aggregate supply curve to the left. C. Shifts the production possibilities curve outward. D. Shifts the aggregate demand curve to the right.