When a physician understands the treatment options better than the patient

Insurance makes transactions complex because
A. it adds parties to medical transactions.
B. different insurers have different payment rules and rates.
C. different insurers have different claim forms.
D. All of the above.


D. All of the above.

Economics

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Figure 9.1 shows three aggregate demand curves. A movement from curve AD2 to curve AD1 could be caused by a(n)

A) increase in the price level. B) increase in government spending. C) increase in the money supply. D) increase in taxes.

Economics

Moral hazard and adverse selection are both examples of

a. the principal-agent problem. b. externalities in consumption. c. efficiency in markets. d. perfect information. e. asymmetric information.

Economics

If a firm has no ______ costs, then the profit from shutting down is zero.

A. fixed B. variable C. opportunity D. sunk

Economics

A political problem with discretionary fiscal policy is the

A. big-state bias. B. contractionary bias. C. overreaction bias. D. expansionary bias.

Economics