One difference from private insurance programs is that social insurance programs:
A. serve everyone who meets baseline eligibility requirements.
B. use a sliding scale of payment based on ability to pay.
C. are universally offered to everyone.
D. None of these is true.
A. serve everyone who meets baseline eligibility requirements.
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John has a marginal benefit of $7 for 1 slice of pizza, $5 for a second slice, $3 for a third slice, $1 for a fourth slice, and $0.50 for a fifth slice. The price of pizza is $1.50 per slice. Which of the following statements is correct?
A) John will purchase 3 slices of pizza and have consumer surplus of $10.50. B) John will purchase 4 slices of pizza and have consumer surplus of $12.00. C) John will purchase 2 slices of pizza and have consumer surplus of $1.50. D) John will purchase 3 slices of pizza and have consumer surplus of $4.50. E) John will purchase 2 slices of pizza and have consumer surplus of $3.00.
Growth in real GDP per capita for the world economy was greatest during
A) the seventeenth century. B) the eighteenth century. C) the nineteenth century. D) the twentieth century.
Suppose the Federal Reserve announces that it will be making a change to a key interest rate to decrease the money supply. This is likely because the Federal Reserve is
a. worried about inflation. b. worried about unemployment. c. hoping to increase the demand for goods and services. d. worried that the economy is growing too slowly.
The figure shows the total product curve for a ski manufacturer. How many workers should the firm hire if its objective is to maximize its weekly production?
a. 1 b. 3 c. 2 d. 4