Which of the following would help control the future growth of healthcare prices and expenditures?
a. an increase in the share of healthcare costs paid for either directly or from personal medical savings accounts
b. the substitution of catastrophic (high deductibility) health insurance for low co-payment plans
c. more reliance on expansion in the supply of medical services rather than stimulation of demand
d. all of the above
D
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When the U.S. dollar depreciates against other currencies:
a. foreign goods become less expensive to U.S. buyers. b. U.S. goods become more expensive to foreign buyers. c. foreign currencies depreciate against the U.S. dollar. d. the volume of U.S. imports decline. e. the volume of U.S. exports decline.
Economists use models in order to
a. experiment with alternative circumstances. b. make educated guesses about real life events. c. predict outcomes under various hypothetical conditions. d. increase understanding of how a relationship actually works. e. All of the above are correct.
If a firm in a perfectly competitive market faces a market price of $7, and it decides to increase its production from 4,000 to 12,000 units, the firm's marginal revenue will:
A. stay the same. B. rise once diminishing marginal product sets in. C. increase from $28,000 to $84,000. D. diminish once diminishing marginal product sets in.
The _____ hypothesis is based on the assumption that the best indicator of the future is what has happened in the past.
A. adaptive expectations B. rational expectations C. Monetary D. supply-side