What is the problem that Obamacare seeks to solve and how does the solution work?
What will be an ideal response?
The Patient Protection and Affordable Care Act, or Obamacare, attempts to overcome the problem of too many people who do not have health insurance. It seeks to make quality, affordable, private health-insurance plans available for those currently uninsured and to stop insurance companies from denying coverage of pre-existing conditions, This act created a Health Insurance Market in which subsidized health insurance is provided. On the supply-side of the market are private healthcare insurance companies. On the demand-side are individuals. Many of the consumers qualify for subsidies which lower the cost to them of the healthcare insurance. By reducing the price, the act increases the number of people with healthcare insurance.
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Which is the broadest price index reported in the United States?
A) the CPI-U B) the GDP deflator C) the consumer price index D) the producer price index
According to Arthur Laffer, the graph that represents the amount of tax revenue (measured on the vertical axis) as a function of the size of the tax (measured on the horizontal axis) looks like
a. a U. b. an upside-down U. c. a horizontal straight line. d. an upward-sloping line or curve.