In what ways do economists and policymakers who believe that market-based reforms are the key to improving the health care system criticize the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
These people believe that the market for health care should change so it is more like the markets for other goods and services, where the prices consumers pay and that suppliers receive would do a better job of conveying information on consumer demand and supplier costs. Increased competition in the market for health care services would reduce costs and increase economic efficiency. Those in favor of market-based reforms criticize the ACA for not adopting this approach.
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Accounting profits can tell a business _______________________, and economic profits can tell a business ______________________.
A. if it is making money with this venture; if it can make more money with a different venture B. if it can make more money with a different venture; if it is making money with this venture C. if it is a profitable business; if it can be any more profitable D. if it can be any more profitable; if it is profitable
Suppose the price elasticity of supply for minivans is 0.3 in the short run and 1.2 in the long run. If an increase in the demand for minivans causes the price of minivans to increase by 5%, then the quantity supplied of minivans will increase by about
a. 1.5% in the short run and 6% in the long run. b. 6% in the short run and 1.5% in the long run. c. 16.7% in the short run and 4.2% in the long run. d. 4.2% in the short run and 16.7% in the long run.
The CPI is calculated
a. weekly. b. monthly. c. quarterly. d. yearly.
In the U.S., which of the following government programs assist workers find jobs when they lose their jobs due to trade?
A. Trade Adjustment Assistance program B. Social Security C. workers' compensation D. Obamacare