How can a person argue that health care services in America are provided efficiently, but not fairly?
What will be an ideal response?
The assertion that the health market is efficient implies that competitive market forces determine the level and quality of health care. Where the demand for and supply of health care intersects, the marginal benefit and marginal cost of health care are equal. This equality means that the people who are demanding health care are willing and able to pay the price, which is equal to the marginal cost of providing health care.
However, at that market price there are many people who cannot afford health care. These people, probably the poor and uninsured, are left to go to clinics, crowd emergency rooms, or else do without basic health care needs because of their lack of ability to pay the market price. This outcome could easily violate the "it's not fair if the result isn't fair" view of fairness. Thus observers who assert that the U.S. health care system might be efficient but isn't fair are using the "results" view of fairness.
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Which of the following is NOT part of solving a game?
A) Write down all possible combinations of strategies. B) Write down all possible payoffs and eliminate dominated strategies. C) Solve for any Nash Equilibrium. D) None of the above.
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a. increase as the interest rate increases. b. decrease as the interest rate increases. c. decrease as real GDP increases. d. none of these.
Refer to the given list. The assets that are not included in either M1 or M2 are:
Answer the question on the basis of the following list of assets: 1. Large-denominated ($100,000 and over) time deposits 2. Noncheckable savings deposits 3. Currency (coins and paper money) in circulation 4. Small-denominated (under $100,000) time deposits 5. Stock certificates 6. Checkable deposits 7. Money market deposit accounts 8. Money market mutual fund balances held by individuals 9. Money market mutual fund balances held by businesses 10. Currency held in bank vaults A. Items 1, 5, 9, and 10. B. Items 2, 5, 8, and 9. C. Items 1, 3, 5, 7, and 9. D. All of the ten items listed.