Until 1987, the primary role of the federal government with regard to public health was _____
a. to regulate the interstate movements of physicians
b. to regulate medicines to ensure a minimal level of quality
c. to control epidemics through the control and quarantine of ports of entry
d. to pay for the health care of the indigent
c
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The precautionary demand for money is when people hold money
A) as a medium of exchange. B) for the interest it yields. C) to meet unplanned expenditures. D) as a store of value.
Moral hazard occurs when:
a. Individuals and institutions do not bear the full cost of their own mistakes. b.Individuals and institutions make immoral decisions based on greed. c. General social decay leads to unethical business decisions. d. The actions of one (or a few) result cause harm to others, when the same would not occur if the actions were by many. e. All of the above are examples of moral hazard.
Before its IPO, Snap, the parent firm of Snapchat, was an example of a private firm. As a private firm, Snap was
A) not subject to government regulations and taxation. B) run by stockholders and a board of directors. C) run by its founders, Evan Spiegel and Bobby Murphy. D) not legally allowed to raise funds through venture capital firms.
If a job pays a wage of $50 per hour, but has a non-wage cost valued at $20 per hour, the net benefit of taking the job equals:
A) $2.5 per hour. B) $20 per hour. C) $30 per hour. D) $70 per hour.