Which of the following would increase the incentive of consumers to economize and of producers to provide medical services at economical prices?
a. substitution of catastrophic health insurance plans for low deductible, low co-payment plans
b. more reliance on medical savings accounts rather than insurance
c. equalization of tax treatment between out-of-pocket medical expenses and employer-provided health insurance
d. all of the above
D
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A normal profit is defined as
A) total revenue minus explicit costs. B) the same thing as accounting profit. C) the return to entrepreneurshi
Explain how product liability laws can reduce adverse selection
What will be an ideal response?
Suppose the marginal propensity to consume is 0.80 and equilibrium GDP resulting from a change in investment spending falls by -$500 billion. What must have been the initial change in investment spending
a. $100 billion b. -$100 billion c. $500 billion d. -$500 billion e. -$400 billion
A monopolist faces a
a. horizontal demand curve. b. vertical demand curve. c. downward-sloping demand curve. d. U-shaped demand curve.