The Medicare pay-as-you-go system is jeopardized by:
a. the changing demographics of the U.S. population with an increasing percentage over the age of 65.
b. an overly generous fee schedule that pays physicians more than private insurance for most procedures.
c. the rising costs of long-term care.
d. allowing physicians to balance bill their patients.
e. a reliance on the premiums paid by the elderly themselves to fund a majority of the total cost of the system.
a. the changing demographics of the U.S. population with an increasing percentage over the age of 65.
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The "invisible hand" refers to the notion that
A) competitive markets send resources to their highest valued uses. B) government intervention is necessary to ensure efficiency. C) marginal benefit decreases as more is consumed. D) marginal cost increases as more is produced. E) no matter what allocation method is used, the resulting production is efficient.
Which type of investor is most likely to have a diversified portfolio?
A) risk averse B) risk loving C) risk neutral D) risk tolerant
What are the two features of money that distinguish it from all other goods in the economy?
A) Money is government issued and it is redeemable for gold or silver. B) Money is accepted as a medium of exchange and it is the common unit of account used to express prices. C) Money is part of every barter transaction and it is divisible. D) Money is a common unit of account and it is also can be traded for other currencies at a guaranteed exchange rate.
Aggregate expenditure means total or combined spending
a. True b. False Indicate whether the statement is true or false