Economic analysis indicates that the increasing government expenditures and growth of third-party payments accompanying the Medicare and Medicaid programs
a. reduced the demand for healthcare services.
b. reduced the incentive of consumers to economize on their use of healthcare.
c. increased the incentive of consumers to economize on their use of healthcare.
d. placed downward pressure on the prices of healthcare services.
B
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Refer to the table above. The value of the money included in M2 but not counted in M1 is:
For a perfectly competitive firm
A. marginal revenue will graph as an upwardly sloping line. B. the demand curve will lie above the marginal revenue curve. C. the marginal revenue curve will lie above the demand curve. D. the demand and marginal revenue curves are identical.
A natural monopoly arises when:
A. economies of scale are so great that only one firm can exist in a market. B. a firm acquires a patent. C. two firms merge to become the only firm serving an entire market. D. a single firm controls all of a natural resource.
Experience rating systems for pricing insurance discourage firms from spending money to try to improve their employees' health.
Answer the following statement true (T) or false (F)