PUP 3002 Exam 2 FSU 118 Correct
solutions.Detailed solutions.
PUP 3002 Exam 2 FSU 118 Correct
solutions.Detailed solutions.
Recession - ANSWER negative growth rate
inflation - ANSWER purchasing power of money. caused by increase in production of money, or excess
money in the economy.
economic growth - ANSWER the increase in the market value of goods & services produced by an
economy. measured by the percent rate of increase in gross domestic product.
risk profile - ANSWER the variance in the price of insurance based on factors such as height, weight, age,
and habits
moral hazard - ANSWER when people have health insurance, they act reckless
risk pool - ANSWER a group of individuals covered by insurance
deductible - ANSWER consumer pays a portion of the yearly medical bills, while insurance handles the
rest
copayments - ANSWER a monthly fee for having insurance
modern health insurance - ANSWER created during WWII, offered as compensation due to premium on
labor. mix of public and private coverage.
affordable care act - ANSWER (2010) Act passed with democratic control, not supported by the
Republicans. Unpopular due to complexity of policy & opponents criticism.
, PUP 3002 Exam 2 FSU 118 Correct
solutions.Detailed solutions.
medicare - ANSWER federally funded. health insurance for people 65 + who have worked and diabled
(must be on disability for 2 years)
medicaid - ANSWER insurance for those who can't afford it. means tested federal-state program.
tricare - ANSWER health insurance for active duty service people
taiwan's approach - ANSWER single payer system that allows the choice between private and public
providers/hospitals
social insurance - ANSWER compulsory contribution to provide government aid to sick and unemployed
progressive tax - ANSWER low income pay less, high income pay more
keynsians approach - ANSWER encourages deficit spending to curb recession
minimum wage - ANSWER provides baseline income for workers. established by the fair labor standards
act (1937)
discount rate - ANSWER rate banks pay the Federal Reserve. The Reserve's main job is setting this rate.
income inequality - ANSWER how evenly distributed income is. difference in total earnings between the
highest and the lowest income people in an area.
redistribution - ANSWER taking from the wealthy and giving to the poor. general viewed as less
favorable by the public (compared to social insurance programs). central reason for taxes.
service obligations - ANSWER minimum standards of operations for firms
solutions.Detailed solutions.
PUP 3002 Exam 2 FSU 118 Correct
solutions.Detailed solutions.
Recession - ANSWER negative growth rate
inflation - ANSWER purchasing power of money. caused by increase in production of money, or excess
money in the economy.
economic growth - ANSWER the increase in the market value of goods & services produced by an
economy. measured by the percent rate of increase in gross domestic product.
risk profile - ANSWER the variance in the price of insurance based on factors such as height, weight, age,
and habits
moral hazard - ANSWER when people have health insurance, they act reckless
risk pool - ANSWER a group of individuals covered by insurance
deductible - ANSWER consumer pays a portion of the yearly medical bills, while insurance handles the
rest
copayments - ANSWER a monthly fee for having insurance
modern health insurance - ANSWER created during WWII, offered as compensation due to premium on
labor. mix of public and private coverage.
affordable care act - ANSWER (2010) Act passed with democratic control, not supported by the
Republicans. Unpopular due to complexity of policy & opponents criticism.
, PUP 3002 Exam 2 FSU 118 Correct
solutions.Detailed solutions.
medicare - ANSWER federally funded. health insurance for people 65 + who have worked and diabled
(must be on disability for 2 years)
medicaid - ANSWER insurance for those who can't afford it. means tested federal-state program.
tricare - ANSWER health insurance for active duty service people
taiwan's approach - ANSWER single payer system that allows the choice between private and public
providers/hospitals
social insurance - ANSWER compulsory contribution to provide government aid to sick and unemployed
progressive tax - ANSWER low income pay less, high income pay more
keynsians approach - ANSWER encourages deficit spending to curb recession
minimum wage - ANSWER provides baseline income for workers. established by the fair labor standards
act (1937)
discount rate - ANSWER rate banks pay the Federal Reserve. The Reserve's main job is setting this rate.
income inequality - ANSWER how evenly distributed income is. difference in total earnings between the
highest and the lowest income people in an area.
redistribution - ANSWER taking from the wealthy and giving to the poor. general viewed as less
favorable by the public (compared to social insurance programs). central reason for taxes.
service obligations - ANSWER minimum standards of operations for firms
