Co-pay is a fixed amount that the insured person must pay each time he or she uses health care.
Answer the following statement true (T) or false (F)
True
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A pure private good is _____ and _____
a. nonexcludable; private in consumption b. excludable; private in consumption c. excludable; collective in consumption d. nonexcludable; collective in consumption
Which of the following statements best describes Keynes’ viewpoint of individual markets?
a. He argued that individual markets for goods and services were appropriate and useful, regardless of the level of aggregate demand. b. He argued that individual markets for goods and services were appropriate and useful, but that sometimes that level of aggregate demand was just too low. c. He argued that individual markets for goods and services were appropriate and useful, but that sometimes that level of aggregate demand was just too high. d. He argued that individual markets for goods and services were appropriate and useful, but only when the level of aggregate demand was low.
At the equilibrium point in a perfectly competitive industry, the total surplus (the sum of the consumer surplus and producer surplus) will be at its maximum
a. True b. False Indicate whether the statement is true or false
If the unemployment rate falls below its long-run level, which policies would be appropriate to stabilize output?
a. increase the money supply, increase taxes b. increase the money supply, cut taxes c. decrease the money supply, increase taxes d. decrease the money supply, cut taxes