If We Observe Long Lines of People Camping Out to Get

question 188

Multiple Choice

If we observe long lines of people camping out to get tickets to a concert, this tells us

• A) the ticket price is below the market equilibrium price.
• B) the ticket price is above the market equilibrium price.
• C) it is likely to be a good concert, but it doesn't tell us anything about the ticket price.
• D) the opportunity cost of time of the people in line is higher than the average for the general population.

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Definitions:

Insurance Exchanges

Marketplaces established to facilitate the purchase of health insurance in every state, as part of the Affordable Care Act, allowing consumers to compare and buy insurance plans.

Preexisting Conditions

Health issues or conditions that an individual had before enrolling in a new health insurance plan, often relevant in determining coverage and premiums.

Personal Mandate

A requirement for individuals to obtain a specific good or service, often associated with health insurance policies to ensure broad coverage across a population.

Medicaid Coverage

A joint federal and state program in the United States that helps with medical costs for some people with limited income and resources.