Economists who support market-based reforms for health care believe that increased competition among providers of health care would ________ costs and ________ economic efficiency
A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease
B
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Any non-credible threat that is part of a Nash equilibrium in a sequential game cannot be played along the Nash equilibrium path.
Answer the following statement true (T) or false (F)
Maggie is trying to convince her friend Hannah to spend the morning at the beach instead of studying economics. Maggie’s argument is that the beach is free so will not cost Hannah anything to go. Maggie even volunteers to drive. Maggie’s argument
a. is correct; it is free to go to the beach. b. is forgetting Hannah’s opportunity cost of not being able to study. c. assumes Hannah has to eat at home or the beach so it will not cost Hannah additional money. d. is forgetting sunk costs.
In a market economy,
a. the government primarily determines the distribution of resources b. prices determine the allocation of resources c. what society produces is what it produced in the past d. resource costs increase as specialization increases e. absolute advantage is the primary determinant of resource allocation
If saving is greater than intended investment, the economy is
a. in equilibrium, and there is no change in business inventories b. not in equilibrium, and business inventories will decrease c. in equilibrium, and actual investment is equal to intended investment d. not in equilibrium, and business inventories will increase e. not in equilibrium, and the level of income will rise