_____ Has Brought Insurance Coverage to Many of the Previously

question 71

Multiple Choice

_____ has brought insurance coverage to many of the previously uninsured in the United States.

• A)State Children's Health Insurance Program (SCHIP)
• B)The Patient Protection and Affordable Care Act (ACA)
• C)Health Insurance Portability and Accountability Act(HIPAA)
• D)Consolidated Omnibus Budget Reconciliation Act(COBRA)

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, typically represented by the area above the supply curve and below the market price.

Equilibrium Price

The market price at which the quantity of a good or service demanded equals the quantity supplied, balancing out buying and selling pressures.

Producer Surplus

Producer surplus is the difference between what producers are willing to accept for a good or service versus what they actually receive, reflecting gains from trade.

Consumer Surplus

The gap between the aggregate sum consumers are ready and can afford to pay for a good or service and the aggregate sum they actually spend.