Which of the following statements is true about the Canadian health care system?
a. Almost 50,000 Canadians travel abroad each year to avoid waiting lists for services.
b. Canadian physicians are salaried employees of the provincial health plans.
c. Canadians have the option of purchasing private health insurance if they can afford it.
d. Canadian physicians are allowed to "balance bill" patients for certain high-cost procedures.
e. Canadian hospitals have significant excess capacity that is used to treat patients from foreign countries.
a. Almost 50,000 Canadians travel abroad each year to avoid waiting lists for services.
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Consider a market in which there is an external benefit. A private subsidy paid to producers can be used to arrive at the efficient market equilibrium because the subsidy will
A) increase the quantity produced. B) decrease the supply of the good. C) increase the price demanders pay. D) decrease demand.
The utility derived from consuming a good depends on:
a. the price of the good. b. the market demand for the good. c. your tastes and preferences. d. your income level.
As a result of a decrease in the price of online streaming movies, consumers download more movies online and buy fewer DVDs. This is an illustration of
A. consumer sovereignty. B. the income effect. C. diminishing marginal utility. D. the substitution effect.
Which of the following contains most of the characteristics of a public good?
A. vaccinations B. a public park C. a civil defense system D. metal recycling