In 2013:
a. almost all of the uninsured had income below or just above the poverty line
b. 45% uninsured adults were ages 18 to 34
c. both of the above
d. neither of the above
Answer: b. 45% uninsured adults were ages 18 to 34
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In 1963, government economists assumed that the MPC for the United States was approximately 0.90. If taxes were cut by $9 billion, then consumer expenditures would initially be expected to
A. decrease by $9.0 billion. B. increase by $9.0 billion. C. decrease by $8.1 billion. D. increase by $8.1 billion.
The monopoly producer
A. sets MU equal to P. B. sets MR = MC. C. has MC > MU. D. sets MR = P.
Figure 34-9
?
In Figure 34-9, at price OC total quantity demanded exceeds quantity supplied and price will rise to
A. OJ in Pastaland. B. OA in Pestoland. C. OA in both countries. D. OJ in both countries.
Refer to the table. In relation to column (3), a change from column (4) to column (5) would most likely be caused by:
A. government placing an excise tax on the good.
B. an improvement in production technology.
C. an increase in consumer income.
D. an increase in input prices.