The Object of the Health Maintenance Organization Act of 1973

question 24

Multiple Choice

The object of the Health Maintenance Organization Act of 1973 was to:

• A) Encourage states to cover medical costs
• B) Encourage US population to sign up for Medicare/ Medicaid
• C) Encourage employers to offer prepaid medical plans
• D) Encourage employers to pay employee medical bills

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Definitions:

Nominal Wage

The amount of money paid to an employee before any deductions and adjustments for inflation.

Compensation

Total of all payments and benefits, including salary and bonuses, given to an employee for their services.

Expected Price Levels

Predictions or forecasts about the level of prices for goods and services in the future.

Aggregate Demand Curve

A graphical representation that shows the inverse relationship between the overall price level and the total output demanded in the economy.