Examlex

Solved

In CASE 41National Federation of Independent Business V

question 56

True/False

In CASE 4.1National Federation of Independent Business v.Sebelius (2012),the U.S.Supreme Court held that the insurance mandate of the Affordable Care Act ("Obamacare")was a proper exercise of Congress's power to regulate interstate commerce.


Definitions:

Factor of Production

An input used in the manufacturing of goods or services, typically categorized into land, labor, capital, and entrepreneurship.

Total Income

The sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings received by an individual or organization.

Marginal Product

The additional output that is produced by adding one more unit of a particular input, while holding other inputs constant.

Wage Rate

The amount of money paid to an employee per unit of time or output, commonly expressed as an hourly rate.

Related Questions