One of the reasons the 2008 Oregon Experiment was so important is because:
a. it provided evidence that individuals with Medicaid had lower mortality risk than those without insurance.
b. its experimental design included random selection of the treatment and control groups.
c. it showed that individuals with Medicaid would receive more primary and preventive care, reducing overall health care spending relative to the uninsured.
d. it provided solid evidence that expanding Medicaid coverage would improve health outcomes.
e. it proved unequivocally that having Medicaid coverage resulted in better physical health outcomes than being uninsured.
b. its experimental design included random selection of the treatment and control groups.
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As was demonstrated in 2007, firms in the shadow banking system
A) were very vulnerable to bank runs. B) were protected from financial ruin by federal deposit insurance. C) were more insulated from the financial crisis than were commercial banks. D) were well insulated from bank runs.
Solow's growth model improved upon the Harrod-Domar results by
a. incorporating technological change into the model b. making a economic growth a reasonable outcome rather than one dictated by specialcircumstances c. assuming that GDP would fluctuate, rather than grow steadily d. removing investment from the model e. none of the above
Profit is defined as
a. net revenue minus depreciation. b. total revenue minus total cost. c. average revenue minus average total cost. d. marginal revenue minus marginal cost.
When the absolute price elasticity of demand equals 2.5, demand is
A) elastic. B) unit-elastic. C) inelastic. D) undetermined without more information.