All of the following are key features of the federal government's new national health care program EXCEPT
A) people must either purchase health insurance or pay a fine to the federal government.
B) a young person in good health can opt not to purchase health insurance without penalty.
C) firms with at least 50 employees must either provide health insurance or pay fines when uninsured employees receive tax subsidies to purchase insurance.
D) government-directed exchanges will assist in matching individuals and small businesses with health insurance policies that satisfy government requirements.
Answer: B
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Economies with high growth rates tend to be those that have:
A. large amounts of natural resources. B. a stable government that protects property rights. C. high levels of government regulation. D. a large defense budget.
A monopolistic competitor is currently producing 2,000 units of output; price is $100, marginal revenue is $80, average total cost is $130, marginal cost is $60, and average variable cost is $60. The firm should
A. raise price because the last unit of output decreased profit by $30. B. lower price because the next unit of output increases profit by $20. C. keep the price the same because the firm is producing at minimum average variable cost. D. raise price because the firm is losing money.