The experiences of Singapore, Whole Foods Markets, and the State of Indiana all point to one major factor that could reduce, if not eliminate, overconsumption of health care. And that is:
A. Reducing the coverage of insured illnesses
B. High out-of-pocket costs to consumers
C. Raising the health-insurance premiums
D. Privatizing health insurance
B. High out-of-pocket costs to consumers
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Refer to the figure above. A change in the budget constraint from B1 to B2 indicates:
A) an increase in the price of sweaters. B) a decrease in the price of sweaters. C) an increase in the consumer's income. D) a decrease in the consumer's income.
As nonunion construction workers replace a unionized work force, the average wage in the construction sector is likely to rise
Indicate whether the statement is true or false
Speculation in the sale of public lands
(a) did not occur. (b) placed land in the hands of capitalists at a price that was not competitive. (c) proved to be a necessary evil in transferring land from public to private ownership. (d) was caused by squatters.
Wage differentials exist in the long run because
a. labor markets are perfectly competitive b. all jobs are equally attractive to all workers c. the prices of goods vary by market d. there are too many workers in the labor force e. not all workers are equally qualified to perform every job