Theoretically, the effect of private health insurance on the price and quantity of health care consumed:
A. Is the same as that of public health insurance
B. Is a lower price and a higher quantity compared to public health insurance
C. Is a higher price and a lower quantity compared to public health insurance
D. Is a lower price and a lower quantity compared to public health insurance
A. Is the same as that of public health insurance
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Refer to Figure 27-1. Suppose the economy is in short-run equilibrium below potential GDP and no fiscal or monetary policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) A to E. B) C to B. C) B to C. D) B to A. E) A to B.
Introduction of checks into the payments system reduced the costs of exchanging goods and services. Another advantage of checks is that
A) they provide convenient receipts for purchases. B) they can never be stolen. C) they are more widely accepted than currency. D) the funds from a deposited check are available for use immediately.
Over the period 1870-2014, the United States experienced an average annual growth rate of real GDP per person of about 1.8 percent per year
a. True b. False Indicate whether the statement is true or false
Which of the following does the U.S. currently have?
a. means-tested government benefits and tax laws that tax capital income only once b. means-tested government benefits and tax laws that tax some capital income twice c. tax laws that tax capital income only once, but not means-tested government benefits d. tax laws that tax some capital income twice, but not means-tested government benefits