Many individuals without health insurance receive "free" care. What are the sources of most of the care they receive?
a. Private, for-profit hospitals
b. Multi-specialty physicians' practices
c. Private, not-for-profit hospitals
d. Public hospitals and clinics
e. Solo practitioners and their associates
d. Public hospitals and clinics
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If the annual interest rate is 0%, the net present value of receiving $550 in the next year is:
a. $550 b. $551. c. $549 d. $500
Long lines and discrimination are examples of rationing methods that may naturally develop in response to a binding price ceiling
a. True b. False Indicate whether the statement is true or false
Researchers have found that the income of obese women is about 17 percent lower than that of women who are of the recommended weight. This result implies that:
A. obese women earn less because employers discriminate against them. B. the relationship between obesity and income is accidental. C. obese women earn less either because they are less productive or because employers discriminate against them. D. obese women earn less because they are less productive.
Answer the following questions true (T) or false (F)
1. If the market price is at equilibrium, the deadweight loss is maximized. 2. If the market price is at equilibrium, the producer surplus is minimized. 3. The sum of consumer surplus and producer surplus is called economic surplus.