One major difference between PPOs (preferred providers organizations) and HMOs (health maintenance organizations) is that:
A. PPOs set rates for various medical services or procedures, while HMOs allow their doctors and clinics to set their own rates
B. PPOs seek to reduce health care costs by controlling prices, while HMOs seek to reduce costs by restricting quantity consumed
C. HMOs employ their own physicians or contract for specialized services with outside providers, while PPOs have arrangements with a network of providers
D. HMOs seek to reduce costs by capping the rates for various services, while PPOs seek to ration health care by having waiting periods
C. HMOs employ their own physicians or contract for specialized services with outside providers, while PPOs have arrangements with a network of providers
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An increase in the U.S. price level will
a. increase the slope of the expenditure schedule. b. decrease the slope of the expenditure schedule. c. shift the expenditure schedule upward. d. shift the expenditure schedule downward.
Positive economics is:
A. more objective than normative economics. B. more subjective than normative economics. C. neither objective nor subjective. D. subjective.
Which of the following statements is true?
A) The U. S. economy would gain from the elimination of its tariffs but not from the elimination of its quotas. B) The U.S. economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas. C) Economic efficiency would be increased if the United States eliminated all of its trade restrictions, but only if all other countries eliminated their trade restrictions too. D) Eliminating its tariffs and quotas unilaterally would not benefit the United States because this would remove the leverage it would have to persuade other countries to eliminate their trade restrictions.
The interest rate on unsecured loans between banks is called the
A) discount rate. B) repurchase rate. C) T-bill rate. D) federal funds rate.