The 2010 Patient Protection and Affordable Care Act (Obamacare) contains a provision that may require individuals to either purchase private health insurance or pay a tax. This is an example of
A) a mixed economy.
B) market capitalism.
C) centrally planned socialism.
D) the invisible hand.
A
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Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy's brother saw the soda, he took four. Sodas were allocated between Mandy and her brother through
A) force. B) majority rule. C) first-come, first-served. D) sharing equally. E) personal characteristics.
In the United States, the long-run average growth rate of velocity in recent decades has been
A) about 2 percent per year. B) about 1 percent per year. C) virtually zero. D) about -1 percent per year. E) about -2 percent per year.
Philosopher John Rawls's theory of justice presents an argument in favor of income equality that relies on the
a. belief that, objectively, people would rather trade the uncertainties of fortune for the certainty of moderate income b. belief that human beings are perfectible, and it is the unequal distribution of property that creates unequal distribution of incomes c. argument that in a world of identical individuals, equality of incomes achieves the greatest welfare number of people d. argument that income equality breeds the most efficient use of economy's resources e. idea that private property originates from theft
The accompanying figure shows the production possibilities curve for the island of Genovia:
If 500 cars are produced in Genovia, a maximum of ________ tons of agricultural products can be produced.
A. 50,000 B. 45,000 C. 25,000 D. 40,000