Publicly provided health insurance for the poor will
A. raise the price of health care to the non-poor and decrease the total amount of health care consumed.
B. decrease the total amount of health care consumed.
C. raise the level of health care consumed by the non-poor.
D. raise the price of health care to the non-poor.
Answer: D
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Refer to Figure 4-16. Suppose the market is initially in equilibrium at price P1 and now the government imposes a tax on every unit sold. Which of the following statements best describes the impact of the tax? For demand curve D1
A) the producer's share of the tax burden is the same whether the supply curve is S1 or S2. B) the producer bears a greater share of the tax burden if the supply curve is S2. C) the producer bears a greater share of the tax burden if the supply curve is S1. D) the producer bears the entire burden of the tax if the supply curve is S1 and the consumer bears the entire burden of the tax if the supply curve is S2.
Inflation tends to ________ during a business cycle expansion and ________ during a business cycle recession
A) increase; decrease B) decrease; increase C) increase; increase further D) decrease; decrease further
Given an annual interest rate of 4 percent, what is the present value of receiving $5,000 in 2 years?
A) $4,585.45 B) $4,622.78 C) $4,535.25 D) $4,619.23
Under socialism, no markets can operate at all
a. True b. False Indicate whether the statement is true or false