Which of the following would help control the future growth of healthcare prices and expenditures?
a. greater reliance on government financed healthcare reimbursement plans
b. an increase in the share of healthcare expenditures financed with low co-payment insurance
c. an increase in the share of healthcare cost paid for either directly or from personal medical savings accounts
d. the finance of prescription drugs for the elderly with a low co-payment insurance plan under Medicare
C
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Which of the following is true about the market supply for resources?
a. The market supply curve of a resource reflects the maximum willingness-to-pay for all firms purchasing resources in the resource market. b. The market supply curve of a resource is derived from the value of the final goods and services produced with the resource. c. The market supply curve of a resource slopes upward because higher resource prices draw resources from lower-valued uses, and because suppliers are able to supply more of the resource at a higher price. d. The market supply curve of a resource slopes downward because suppliers are able to supply less of the resource at a higher price.
If the price elasticity of demand is 1, demand is:
A. upward sloping. B. inelastic. C. unit elastic. D. elastic.
The more difficult the goal, the more likely military force is going to be needed to back up economic sanctions
Indicate whether the statement is true or false
Economists reason that the optimal decision is to continue any activity up to the point where the
A) marginal benefit is zero. B) marginal benefit is greater than the marginal cost. C) marginal cost is zero. D) marginal benefit equals the marginal cost.