Assume health insurance is provided universally by the government. This would
A) force every taxpayer to bear the costs of adverse selection.
B) force every taxpayer to bear the costs of moral hazard.
C) force the government to deal with adverse selection problems.
D) force foreign governments to deal with moral hazard problems.
B
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The economists discussed in the Application found that states where unemployment benefits ________ grew ________ than in other states
A) increased; slower B) decreased; slower C) increased; faster D) decreased; faster
If business fluctuations are from demand-side forces,
A. monetary and fiscal policy will move inversely. B. interest rates and budget deficits will move inversely. C. unemployment and inflation will move inversely. D. unemployment and budget deficits will move inversely.
The marginal revenue product of an input in a competitive market decreases as a firm increases the quantity of the input employed because of the:
A. Law of diminishing returns B. Law of diminishing marginal utility C. Homogeneity of the product D. Free mobility of resources
The time it takes for policy makers to be sure of what the data are signaling about the future course of the economy is called
A) the data lag. B) the recognition lag. C) the legislative lag. D) the implementation lag. E) the effectiveness lag.