Analyzing healthcare costs in the United States is interesting because
A. other industrialized countries spend less and get better outcomes.
B. the opportunity costs of healthcare appear to be too high.
C. the healthcare system appears to be wasting resources.
D. All of the above
D. All of the above
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________.
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Wages that are above the wage that workers would accept, where the premium is paid to increase worker productivity, are referred to as:
A) wage floors. B) wage ceilings. C) efficiency wages. D) productivity wages.
Because cartel firms produce a quantity that ________ maximize their own firm's profits, there is an incentive to ________.
A) does; produce more than the agreed upon amount B) does not; produce less than the agreed upon amount C) does; act in self-interest D) does not; act in self-interest
The health care market in the United States is characterized by
A) considerable government involvement. B) third-party payment of health care costs. C) asymmetric information between providers and consumers. D) all of the above