Refer to Figure 5-3. With insurance and a third-party payer system, what price do consumers pay for medical services?
A) $40 B) $55 C) $65 D) > $65
A
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The interest rate is 5 percent. How does $500 to be received a year from today compare in value to $500 right now?
What will be an ideal response?
Costs of unemployment include
A) structural unemployment. B) the output lost due to the fact that the economy is not running at full employment. C) reduction in the labor force. D) higher wages.
If monopolies are both inevitable and bad, which policy alternative will be least disruptive of all effective policy alternatives?
a. regulate prices b. nationalize c. laissez-faire d. encourage concentration e. split up the monopoly
If labor supply is perfectly inelastic, the imposition of a payroll tax legislated to be paid by firms will do all of the following except
A. reduce the wage rate by exactly the amount of the tax. B. generate tax revenue paid to the government. C. leave employment levels unchanged. D. reduce total output. E. leave firm profits unchanged.