The health care market in the United States is characterized by
A) considerable government involvement.
B) third-party payment of health care costs.
C) asymmetric information between providers and consumers.
D) all of the above
Answer: D
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If there is no Ricardo-Barro effect, a government budget deficit increases
A) private savings and lowers the real interest rate. B) private savings and raises the real interest rate. C) the demand for loanable funds and raises the real interest rate. D) investment demand and lowers the real interest rate. E) the supply of loanable funds and raises the real interest rate.
Refer to Figure 4.3. All else equal, a decrease in the desire of households to consume today accompanied by an increase in corporate taxes would cause which of the following shifts?
A) S1 to S2 and D1 to D2 B) S2 to S1 and D1 to D2 C) S1 to S2 and D2 to D1 D) S2 to S1 and D2 to D1
You have read about the so-called catch-up theory by economic historians, whereby nations that are further behind in per capita income grow faster subsequently. If this is true systematically, then eventually laggards will reach the leader
To put the theory to the test, you collect data on relative (to the United States) per capita income for two years, 1960 and 1990, for 24 OECD countries. You think of these countries as a population you want to describe, rather than a sample from which you want to infer behavior of a larger population. The relevant data for this question is as follows: where X1 and X2 are per capita income relative to the United States in 1960 and 1990 respectively, and Y is the average annual growth rate in X over the 1960-1990 period. Numbers in the last row represent sums of the columns above. (a) Calculate the variance and standard deviation of X1 and X2. For a catch-up effect to be present, what relationship must the two standard deviations show? Is this the case here? (b) Calculate the correlation between Y and . What sign must the correlation coefficient have for there to be evidence of a catch-up effect? Explain. What will be an ideal response?
An example of the type of crime that is contemplated by the rational criminal model is
A. drug dealing. B. school shooting. C. spousal abuse. D. rape.