Which of the following is NOT a role of Adam Smith?
A. wrote Wealth of Nations book in 1776
B. believes that prices, self interest, and competition have a role in the economy
C. believes in the efficiency of market economies
D. argued for laissez faire
E. focused on an accumulation of gold
Ans: E. focused on an accumulation of gold
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Refer to Table 2-15. What is George's opportunity cost of cultivating a garden?
A) one-half of a garden cultivated B) two lawns mowed C) two-thirds of a garden cultivated D) one and a half lawns mowed
Which of the following is a part of the "employer mandate" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Every firm with more than 3 full-time employees must offer health insurance to its employees and must automatically enroll them in the plan. B) Every resident of the United States must have health insurance that meets certain basic requirements. C) Firms with 50 or more full-time employees must offer health insurance or pay a $3,000 fine to the federal government for every employee who receives a tax credit from the federal government for obtaining health insurance through a health insurance marketplace. D) Small businesses with fewer than 50 employees are exempt from being required to participate in the program.