What is one result of the Medicare subsidy?
A. The elderly population in the United States receives a lower quality of medical care than what is provided for the elderly population in other countries.
B. Patients may elect to have some treatments that are of low value to them but that are costly to provide.
C. The health care industry is more efficient than it otherwise would be.
D. The number of physicians in the United States has declined.
Answer: B
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When regulators chose to allow insolvent S&Ls to continue to operate rather than to close them, they were pursuing a policy of
A) regulatory forbearance. B) regulatory kindness. C) ostrich reasoning. D) ignorance reasoning.
Securities markets perform a valuable economic function because they provide
A. an opportunity for investors to make money in a short time. B. the principal indicator of the performance of the U.S. economy. C. an easy way to transfer corporate securities, thereby reducing risk to investors. D. assurance that stock purchasers can get back the purchase price of their stock.
Which of the following had resulted from the Smithsonian agreement of 1971?
a. Devaluation of the U.S. dollar b. Dissolution of a fixed exchange rate regime c. Appreciation of the U.S. dollar d. Establishment of an equilibrium exchange rate e. Laissez-faire in the foreign exchange market
When the market price is below the equilibrium price, suppliers are unable to sell all they want to sell
a. True b. False Indicate whether the statement is true or false