You Graduate from Law School and Can Now Begin Charging

question 57

Multiple Choice

You graduate from law school and can now begin charging clients fees for your time. What impact will this have on your demand for money?

• A) Your increased income will likely cause your demand for money to decrease
• B) Your opportunity cost of making trips to the bank will decrease
• C) Your increased income will likely cause your demand for money to increase
• D) Your demand for money will not be affected

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Definitions:

Obamacare

Informal term for the Patient Protection and Affordable Care Act, a federal statute aimed at decreasing uninsured rates and reducing healthcare costs.

Insurance Exchanges

Marketplaces established to facilitate the purchase of health insurance in accordance with the rules of the Affordable Care Act.

Foster Competition

Encourages or promotes a competitive environment within a market, leading to benefits such as innovation and lower prices.

Insurance Companies

Financial institutions that provide coverage against specified losses in exchange for premium payments.