A system of universal medical insurance would tend to ________ the ________ for medical services
A) increase; elasticity of demand
B) decrease; elasticity of demand
C) decrease; quantity demanded
D) decrease; non-monetary payments
B
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A maximin strategy
A) maximizes the minimum gain that can be earned. B) maximizes the gain of one player, but minimizes the gain of the opponent. C) minimizes the maximum gain that can be earned. D) involves a random choice between two strategies, one which maximizes potential gain and one which minimizes potential loss.
A worker deciding how many hours to work can be represented:
A. with an individual labor-supply curve. B. in the market labor-supply curve. C. with an individual labor-demand curve. D. in the market labor-demand curve.
Political instability is a deterrent to long-term private investment
Indicate whether the statement is true or false
When the coupon rate on newly issued bonds increases relative to older, outstanding bonds, what happens?
A) The market price of the older bond falls in the secondary market. B) The market price of the older bond rises in the secondary market. C) Older bonds can still be sold at their face value. D) Older bonds will sell for more than their face value.