The 1974 federal legislation that exempted employers from certain state laws governing health insurance was:
a. HIPAA.
b. CON.
c. SCHIP.
d. ERISA.
e. COBRA.
d. ERISA
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There are never shortages or surpluses when the price in a market is equal to the equilibrium price for the market.
Answer the following statement true (T) or false (F)
A resource is said to have a comparative advantage if:
A. its suitability to the production of one good changes as it produces more of that good. B. it is better suited to the production of one good than to the production of an alternative good. C. it is equally suited to the production of all goods. D. its suitability to the production of one good does not change as it produces more of that good.
The problem generally associated with public goods is:
A. free-riding. B. adverse selection. C. moral hazard. D. self-selection.
In the above figure, what is the amount of producer surplus at the efficient quantity?
A) $0 B) $1,000 C) $2,000 D) $4,000