Which of the following would tend to reduce overall health care expenses?
A. An increase in national income
B. Higher technology in medical care
C. A reduction in the incidence of third-party payers
D. An increase in court awards of damages in malpractice lawsuits
Answer: C
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The above figure shows the production possibility frontier for a country. What is the opportunity cost per ton of rice to move from point B to point D?
A) 500 bottles of wine B) 2 bottles of wine C) 1/2 of a bottle of wine D) 1000 bottles of wine E) None of the above answers is correct.
If a college wanted to increase its revenues from tuition payments, should it increase the tuition of day and evening students alike?
What will be an ideal response?
If the production of a particular good causes a negative externality, would the equilibrium quantity in a competitive market be less than the efficient quantity or would it be greater than the efficient quantity?
What will be an ideal response?
The market supply curve for a product:
A. is the supply of an individual consumer. B. will lie to the right of all of the individual supply curves for a product. C. graphically is the vertical sum of the individual supply curves. D. will lie above all of the individual supply curves for a product.