What is health insurance?
What will be an ideal response?
Health insurance is a contract under which a buyer agrees to make payments, or premiums, in exchange for the provider agreeing to pay some or all of the buyer's medical bills.
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Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the formAVC = a + bQ + cQ2and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. 
The estimated short-run marginal cost function (SMC) at Straker Industries is:
A. SMC = 43.4 ? 5.6Q + 0.6Q2 B. SMC = 43.4 ? 1.4Q + 0.07Q2 C. SMC = 43.4Q ? 5.6Q2 + 0.6Q3 D. SMC = 43.4Q ? 1.4Q2 + 0.07Q3
If fluctuations in interest rates become smaller, then, other things equal, the demand for stocks ________ and the demand for long-term bonds ________
A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases
A difficulty with using a uniform per-unit tax to address a negative externality is that
A) the tax will reduce output. B) the tax will increase price. C) the social cost of pollution might vary across geographic regions. D) the social cost of pollution should not be assessed on the consumers, but should be assessed on the firms.
An economy produces capital goods and consumer goods. This economy is operating at a point on its production possibility frontier associated with a small amount of capital goods and a large amount of consumer goods. This is most likely to be a
A. country with a free market. B. "poor" country because such a nation has difficulty devoting many resources to the production of capital goods. C. "rich" country because such a nation can afford to sacrifice. D. country with a command economy.