The fundamental problem associated with the U.S. health care system is that:
A. the financing of health care through insurance has resulted in the underallocation of
resources to the health care industry.
B. frivolous malpractice suits have increased malpractice insurance premiums for doctors.
C. at the margin, the value of health care services may be less than the value of alternative
goods and services.
D. there are too many general practitioners and not enough specialists.
Answer: C
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Stock prices can be described as "random walks" if there is no relationship between one day's prices and the following day's prices
a. True b. False Indicate whether the statement is true or false
Under a fractional reserve banking system, banks are required to
(a) keep part of their demand deposits as reserves (b) expand the money supply when requested by the central bank (c) insure their deposits against losses and bank runs (d) pay a fraction of their interest income in taxes (e) charge the same interest rate on all their loans
Which of the following is an indicator of how much output the average person would get if all output were divided up evenly among the population?
A. Real GDP. B. GDP deflator. C. Nominal GDP. D. Per capita GDP.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.