What is one result of the Medicare subsidy?
A) The health care industry is more efficient than it otherwise would be.
B) Patients may elect to have some treatments that are of low value to them but that are costly to provide.
C) The elderly population in the United States receives a lower quality of medical care than what is provided for the elderly population in other countries.
D) The number of physicians in the United States has declined.
B
You might also like to view...
Suppose that the price of bread rises. This rise could be the result of
A) a decrease in the supply of bread. B) an increase in the supply of bread. C) a decrease in the demand for bread. D) Both answers A and C are correct. E) Both answers B and C are correct.
Little Richie Lemons, a thirteen-year-old former lemonade stand owner, quit the business and now searches for an after-school job. Is he officially unemployed?
A) No, because he was never employed in the first place. B) No, because he is under 16 years old. C) Yes, because he is no longer self-employed. D) Yes, because he is looking for work.
Everything else held constant, if a central bank makes an unsterilized ________ of foreign assets, then the domestic money supply will increase and the domestic currency will ________
A) purchase; appreciate B) purchase; depreciate C) sale; appreciate D) sale; depreciate
Unlike a competitive buyer,
A) a monopsonist faces an upward-sloping industry supply curve. B) a monopsonist pays a different price for each unit purchased. C) a monopsonist sets marginal value equal to marginal expenditure. D) a monopsonist pays a price that depends on the number of units purchased.