Which of the following is not an argument used by economists and policymakers who are in favor of moving toward greater government involvement in health care?
A) The increased competition that results from market-based reforms would reduce health care costs and increase economic efficiency.
B) A single-payer system would reduce the paperwork caused by the current system.
C) The current Medicare system has had lower administrative costs than have private health insurance companies.
D) The systems in most other high-income countries have lower levels of health care spending per person which still providing good health outcomes.
Answer: A
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Burn the Boats When Hernán Cortés was leading his men in conquest of the Aztecs in Mexico, he famously burned his boats on the beach before setting off inland. How does this help him to bargain with his sometimes unwilling men?
Market equilibrium
What will be an ideal response?
Juanita has just opened a new business selling pet supplies through the Internet
A) Juanita is an entrepreneur. B) Juanita is not providing economic goods since people purchase the goods. C) Juanita is not providing economic goods since pet supplies are not being sold in a store. D) Juanita is not an entrepreneur since there are other businesses that sell pet supplies.
If price decreases by 10 percent and quantity demanded increases by 3 percent, the price elasticity of demand will be
A) 3. B) 0.3. C) 3.33. D) 300.