If governments provide free healthcare services,
a. this illustrates that governments can provide healthcare more economically than private firms.
b. output and consumption of other goods will not be sacrificed.
c. resources with alternative uses are allocated to healthcare and there is an opportunity cost of these resources.
d. the opportunity cost of the resources used to supply healthcare is zero.
C
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Consumers most likely decide on their current consumption spending by looking at their short-run income prospects.
Answer the following statement true (T) or false (F)
The government expenditure multiplier is the magnification effect of a change in government expenditure on
A) aggregate demand. B) the budget deficit. C) tax receipts. D) aggregate supply. E) potential GDP.
Betty spends all her income on wine and brie. Currently she gets 30 utils from the last bottle of wine and 15 utils from the last package of brie. The price of wine is $6 per bottle and the price of brie is $4 per package. a. Betty cannot increase her total utility by changing the combination of wine and brie she consumes. b. Betty can increase her total utility by buying more wine and less
brie. c. Betty can increase her total utility by buying more brie and less wine. d. Betty could increase her total utility by buying less of both brie and wine.
A study by Kathryn Edin and Laura Lein found that
A. virtually all single mothers—whether working or receiving public assistance—had to supplement their income with money from relatives, boyfriends, or the absent father of their children. B. most welfare families lived very comfortably on their public assistance checks, supplemented by Medicaid, public housing, and food stamps. C. only half the number of Americans officially below the poverty line were actually poor. D. government assistance hurt the poor much more than it helped the poor.