In 2016, Medicare Part B premiums for single persons with incomes under $85,000 were
A. $372.50, with a deductible of $500.
B. $121.80, with a deductible of $166.
C. $248.00, with a deductible of $350.
D. $199.50, with a deductible of $350.
Answer: B
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Answer the following statement true (T) or false (F)
1) Surpluses drive market prices up; shortages drive them down. 2) If demand increases and supply simultaneously decreases, equilibrium price will rise. 3) The rationing function of prices refers to the fact that government must distribute any surplus goods that may be left in a competitive market. 4) An increase in quantity supplied might be caused by an increase in production costs.
Suppose the labor supply equation is L = (W/3) - (4/3). The wage rate is initially 5. What is the amount of producer surplus here?
What will be an ideal response?