A goal of market-based reforms of the health care system is to give patients an incentive to pay more attention to the prices of medical services. This would tend to ________ economic efficiency by ________ the costs of medical services
A) increase; increasing
B) increase; decreasing
C) decrease; increasing
D) decrease; decreasing
Answer: B
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A monopolist's marginal revenue curve is flatter than its demand curve
a. True b. False
In the long run, a decrease in the money supply growth rate
a. shifts both the long-run and the short-run Phillips curves right. b. shifts the long-run Phillips curve left and the short-run Phillips curve right. c. shifts the long-run Phillips curve right and the short-run Phillips curve left. d. None of the above is correct.
Which of the following is an example of consumption?
a. The City of Milwaukee pays a construction company to repair an expressway. b. Ralf buys a lawnmower to use for his landscaping business. c. Rayana pays a landscaper to design a garden for her backyard. d. The Girder Construction Co. buys a crane for a skyscraper project.
Why is the pricing outcome of a perfectly competitive firm efficient in economic sense?
What will be an ideal response?