Which of the Following Is True

question 131

Multiple Choice

Which of the following is true?

• A) The growth of third-party payments during the last several decades has helped control inflation in the health-care sector.
• B) Public policy encourages Americans to purchase low deductible/low co-payment health insurance coverage through their employers.
• C) Low deductible health insurance coverage encourages health-care consumers to search for the best prices.
• D) The 2.9 percent Medicare payroll tax is sufficient to cover the cost of the promised future health-care services to senior citizens.

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Definitions:

Merchant

Under the UCC, a person who regularly sells goods as his or her business or trade or employs people to sell those goods; anyone who works for a person selling those goods; or anyone who holds himself or herself out as a “merchant” or a “dealer.”

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, aimed at harmonizing the law of sales and other commercial transactions across all 50 states.

Substitute Goods

Products or services that can be used in place of each other, where an increase in price for one leads to an increase in demand for the other.

Good Faith

A principle of honesty and sincerity of intention in one's actions, especially in contractual or negotiation contexts.