Essentials of Economics

Krugman, Paul; Wells, Robin

4th ed.

New York: Worth Publishers, Macmillan Learning, 2017

p. 250

Regulators imposed a common carriage rule on their industries, stipulating that cable companies must rent their cable capacity to internet service providers, who then compete to deliver internet access to consumers.

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p. 333

To make community rating work, sick and healthy alike need to buy health insurance—a requirement known as the individual mandate. In addition, government subsidies need to be available to make the required insurance affordable for lower- and lower-middle income families.

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p. 333

And in 2010, Congress passed the Affordable Care Act (ACA) which took full effect in 2014. It was the largest expansion of the American welfare state since the creation of Medicare and Medicaid in 1965. It had two major objectives: covering the uninsured and cost control.

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p. 469

The high costxguiollargxin terms of unemploymentxguiollargxof a reces-sionary gap and the future adverse consequences of an inflationary gap lead many economists to advocate active stabilization policy: using fiscal or monetary policy to offset demand shocks. There can be drawbacks, however, because such policies may contribute to a long-term rise in the budget deficit and crowding out of private investment, leading to lower long-run growth.

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