Third-party payers for medical care include all of the following EXCEPT
A. Medicaid.
B. employer-provided medical insurance.
C. payments from the patient's savings.
D. Medicare.
Answer: C
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The arrival of Michael Jordan, Larry Bird, and Magic Johnson in the 1980s increased the popularity of pro basketball. This led to
a. an increase in the equilibrium quantity of professional basketball b. a decrease in the equilibrium quantity of professional basketball c. a decrease in the price of professional basketball tickets d. a decrease in pro basketball players' salaries e. an increase in the price of professional basketball tickets but no change in game attendance
A flat tax is
A. A tax system in which tax rates rise as income rises. B. The tax rate imposed on the last dollar of income. C. A tax system in which tax rates are constant. D. A tax system in which tax rates fall as income rises.
The Coase theorem states that when a market failure exists
A. government control of pollution is necessary. B. homeowners and those affected by the pollution will control the level of pollution. C. the outcome will be the same regardless of who owns the property right. D. the polluter will control the level of pollution.
Related to the Economics in Practice on p. 448: Compared to students who graduate college and obtain employment during an economic expansion, students who graduate during a recession often find that starting wages are ________ and wage growth is ________.
A. higher; slower B. lower; slower C. higher; faster D. lower; faster