If there were no individual mandate requiring most individuals to purchase health insurance:
a. individuals in good health have no incentive to purchase health insurance
b. there would be an adverse selection of unhealthy people purchasing health insurance
c. both of the above
d. neither of the above
Answer: c. both of the above
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If an economist wants to make a prediction about the effects of a change in disposable income on the change in consumption spending based on historical data, she must assume that
a. the future will closely resemble the past. b. consumption and disposable income will be negatively related. c. the consumption function will have a downward slope. d. as disposable income increases, consumer spending will remain constant.
Private ownership and competitive markets are important for economic growth because they provide individuals with a strong incentive to
What will be an ideal response?
Which group is most likely to be adversely affected by the importation of foreign steel?
A. Domestic steelworkers. B. Consumers of domestic automobiles for which steel is an input. C. Foreign steel producers. D. Domestic automobile workers.
Your Uncle Harry gives you stock in Samsung for your birthday. The stock is an example of:
A. foreign direct investment. B. importing. C. foreign portfolio investment. D. exporting.