Competitive pricing has not developed in the health care industry due to the following factors, except:
A. The government bans competitive pricing in health care
B. Consumers rarely shop around for health care providers
C. Insurance covers most consumers' cost of health care
D. Consumers are often wary of low prices in health care
A. The government bans competitive pricing in health care
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Refer to the scenario above. The real GDP of the country in Year 1 was ________
A) $280,000 B) $2,200,000 C) $540,000 D) $1,400,000
Lucy works as a college instructor for a fixed annual salary of $30,000. She is considering quitting this job and becoming a real estate broker
Lucy believes that as a realtor she has a 40 percent chance to make $60,000 per year and a 60 percent chance to make $25,000 a year. The figure above shows Lucy's total utility of wealth curve (U). Lucy will decide to ________ and she will definitely make this choice because it gives her a greater expected ________. A) keep her current job; income B) keep her current job; utility C) quit her job and become a realtor; utility D) quit her job and become a realtor; income
Suppose that there are diminishing returns to capital. Suppose also that two countries are the same except one has less capital and so less real GDP per person. Suppose that both increase their saving rate from 3 percent to 4 percent. In the long run
a. both countries will have permanently higher growth rates of real GDP per person, and the growth rate will be higher in the country with more capital. b. both countries will have permanently higher growth rates of real GDP per person, and the growth rate will be higher in the country with less capital. c. both countries will have higher levels of real GDP per person, and the temporary increase in growth in the level of real GDP per person will have been greater in the country with more capital. d. both countries will have higher levels of real GDP per person, and the temporary increase in growth in the level of real GDP per person will have been greater in the country with less capital.
At higher nominal rates of interest, the demand for real balances is:
a. higher because savers can earn higher returns. b. lower because the opportunity cost of holding those funds is higher. c. invariant with respect to the nominal interest rate. d. inversely related to the price level.