Employer-provided private health insurance in the United States has resulted in:
A. incentives that encourage the overuse of health care.
B. incentives that discourage the use of health care, and overall poorer health.
C. lower costs of health care as providers better achieve economies of scale.
D. comprehensive coverage of the U.S. population, with few lacking access to adequate
health care.
Answer: A
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The process of making the best of our limited resources by doing the things we are best at and hiring other people to do the things we are not particularly good at is called
A) absolute advantage. B) comparative advantage. C) specialization. D) protectionism.
What is the output level predicted by the Cournot model? Discuss this in terms of the different market models that have been surveyed so far
What will be an ideal response?
Secondary workers are often decisive in keeping a family out of poverty
Indicate whether the statement is true or false
A farmer notices that a neighboring rancher's cattle are wandering and destroying some of his crops. The farmer decides to offer a payment to the rancher if the rancher will reduce the size of his herd. By doing so, the farmer
A) can be sure that the size of the herd will be reduced and the size of his own harvest will be increased. B) indicates to the rancher that there is an opportunity cost to the wandering of the cattle, and thereby internalizes the externality. C) inadvertently bears the costs of the externality when the rancher should be liable for the costs. D) informs the rancher that the cattle have destroyed crops, which should induce the farmer to build a fence in order to maintain good relations.