Answer the following questions true (T) or false (F)
1. "Cost disease" refers to the tendency for high productivity in the service sector to lead to lower costs in those industries.
2. Under the Patient Protection and Affordable Care Act (ACA), individuals who do not have health insurance are subject to a fine.
3. Under the Patient Protection and Affordable Care Act (ACA), every company with more than 200 employees must offer health insurance to its employees and must automatically enroll them in the plan.
1. FALSE
2. TRUE
3. TRUE
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In the United States, the use of fiscal policy tools to stabilize the economy gained prominence during
A) the Clinton administration. B) the Kennedy administration. C) the Reagan administration. D) the depression era.
Which of the following is not a reason for studying credit market frictions?
A) explaining features of financial crises. B) explaining key elements of financial market behavior. C) understanding why Ricardian equivalence may not work. D) explaining why collateral does not matter.
Which of the following rises during recessions?
a. layoffs and consumer spending b. layoffs but not consumer spending c. consumer spending but not layoffs d. neither layoffs nor consumer spending
Countries such as Brazil, India, and Moldova-well-known sources of organ donors-have banned buying and selling organs. This legal action comes at the risk of driving the trade underground. What idea from Chapter 1 of the text does this story best illustrate?
A. Economic forces always operate despite legal forces. B. Legal and social forces can eliminate economic forces. C. Marginal revenue should equal marginal cost. D. The invisible hand is not always invisible.