Briefly describe the 6 main provisions of the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
1. Individual mandate requires that every resident of the United States have health insurance or be subject to a fine.
2. State health insurance marketplaces which offer health insurance policies are required to be established in every state.
3. Employers are mandated to offer health insurance to employees, or in some cases, pay a fee to the federal government for every employee who receives a tax credit for obtaining insurance through a health exchange.
4. Insurance companies are required to participate in a high-risk pool and must provide health coverage for dependant children up to age 26. Also, lifetime dollar maximums are prohibited and limits are placed on deductibles and waiting periods for coverage to take effect.
5. Some Medicare reimbursements will be reduced.
6. New taxes have been and will be phased in to help fund the program.
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Which of the following persons is hedging?
A) A commodity speculator who confines his purchases or sales to futures contracts B) A commodity speculator who confines his market activity to the purchase of futures C) A commodity speculator who confines his market activity to the sale of futures D) A farmer who buys September corn futures when he plants corn in May E) A farmer who sells September corn futures when he plants corn in May
The complexity of the U.S. federal income tax system results in significant annual deadweight losses. The opportunity cost of the hours taxpayers spend on record keeping and completing their tax returns amounts to billions of dollars
a. If the tax system was simplified, how would this benefit the economy? b. Why hasn't the tax system been simplified?
Social security benefits have exceeded/will exceed payroll taxes starting in
A. 2005. B. 2010. C. 2020. D. 2030.
Expectations of inflation are assumed to be constant at each point on a given short-run Phillips curve.
Answer the following statement true (T) or false (F)