(Last Word) A market-based system of buying and selling human organs for transplant would:
A. reduce total health care spending.
B. create a surplus of organs.
C. increase the quantity of organs available for transplant.
D. reduce the price of organs.
Answer: C
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A worker's stock of knowledge is known as
A) monetary capital. B) human capital. C) physical capital. D) financial capital.
In Figure 3.1, if demand is considered perfectly inelastic, then the appropriate figure is?
a. Figure 1
B. Figure 2
c. Figure 3
d. Figure 4
One policy option explored during the Obama administration was to change U.S. drug laws to
A. prohibit re-importation. B. ban television advertising of prescription drugs. C. permit re-importation. D. restrict malpractice lawsuits.
Economic scarcity arises from
a. inefficient production. b. limited resources and limitless wants. c. limited wants and limitless resources. d. exploration.