Which of the following reforms could potentially reduce spending on health care without reducing the effectiveness of health care received?
A) nationalize health care so that all health services are government funded and operated
B) give every citizen a fixed amount of money that can only be spent on health care services
C) reimburse consumers for preventive health care expenditures so as to avoid costly emergency medical treatments in the future
D) standardize the tax treatment of employer-based health insurance benefits and private spending on health care
Answer: D
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According to Milton Friedman, regular income can be divided into permanent income and transitory income
Indicate whether the statement is true or false
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Indicate whether the statement is true or false
According to the theory of the backward-bending labor supply curve, as the hourly wage keeps rising we
A. eventually reach a maximum number of hours worked. B. eventually reach a minimum number of hours worked. C. keep increasing indefinitely the number of hours worked. D. will work a set number of hours whether or not the wage rate is increased.