A market structure where many sellers offer differentiated products is called perfect competition
Indicate whether the statement is true or false
FALSE
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The use of government to supplant market outcomes is called
A) market failure. B) rent seeking. C) free riding. D) efficiency.
Personal consumption spending now comprises approximately what fraction of GDP?
a. One-third b. One-sixth c. Three-quarters d. One-quarter e. One-half
Budget surplus
What will be an ideal response?
Subsidies for those required to purchase health insurance under the personal mandate provision of the PPACA are:
A. limited to those whose income is less than 133 percent of the federal poverty line. B. limited to those whose income is at or below the federal poverty line. C. provided to some individuals in the upper half of the income distribution. D. a fixed amount per person for those eligible to receive the subsidies.