What requirement does the PPACA place on individuals?
What will be an ideal response?
The PPACA has a personal mandate that requires individuals to purchase health insurance for themselves and their dependents if they do not already have private insurance through their employer or government insurance. If a person does not purchase health insurance, they can be fined either $695 per family member or 2.5 percent of family income.
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In order for the United States to use discretionary fiscal policy to deal with a recessionary gap,
A) the public must elect members of Congress that understand economics. B) the President's and Congress's economic advisors must agree on the proper government programs to slash. C) the President and Congress must agree on which taxes to hike. D) time must pass in order for Congress to decide what taxes and government programs to change. E) since 2002, the President has been given the authority to make up to a 10 percentage point change in government expenditure programs.
As an economy's capital stock increases, the economy
A) generally experiences increased unemployment of other resources, such as labor. B) generally decides to engage in international trade. C) experiences economic growth. D) gains an absolute advantage in the production of capital goods.
If the long-run industry supply curve in a perfectly competitive market slopes upward, then very likely input prices will ____ as industry output expands
a. increase b. decrease c. remain constant d. first increase and then decrease
A firm will shut down if
a. it earns too little economic profit b. there are a large number of buyers and sellers c. it suffers an economic loss d. there is a change in tastes and preferences e. price is everywhere less than average variable cost