What are the two major parts of the Medicare program?
What will be an ideal response?
Medicare is a Federal program available to Social Security beneficiaries and persons with disabilities. One part of the program is hospital insurance coverage. Recipients pay a deductible, after which most of their reasonable hospital costs are covered. The second part of Medicare is medical insurance for physicians’ services, testing, and outpatient hospital services. This coverage requires a monthly premium that covers about a fourth of the benefits provided.
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Describe how the market demand curve for private goods is developed. Describe how the societal demand curve for public goods is developed. Explain why each curve is developed the way it is
What will be an ideal response?
Refer to the diagram where curves (a) through (e) are for five different countries. The Gini ratio is:
A. zero in country (e) and 1 in country (a).
B. greater in country (b) than in country (c).
C. zero in country (a) and 1 in country (e).
D. less than 0.5 in country (d).