In a single payer model of healthcare, the government pays for all healthcare. Because patients access healthcare at a zero or low cost, the quantity of healthcare services demanded exceeds the quantity provided
A) Both sentences are false.
B) The first sentence is false; the second sentence is correct.
C) The first sentence is correct; the second sentence is false.
D) Both sentences are correct.
D
You might also like to view...
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
If people speculate that a run on one bank will cause a run on all banks in the financial system, and this speculation proves accurate, then the financial system would experience what is known as a
A) securitization meltdown. B) commodity crisis. C) bank panic. D) institutional death spiral.
Figure 3-8
In , if the initial demand and supply for soybeans were D1 and S1, how would a decrease in the cost of producing soybeans affect the market for soybeans?
a.
Demand would increase to D2, price would increase to P2, and the quantity would increase to S.
b.
Supply would increase to S2, price would decrease to P0, and the quantity would increase to S.
c.
Both demand and supply would increase so the price would remain at P1, but the quantity would increase to T.
d.
None of the above would occur.
A person states that "a large public debt will bankrupt the U.S. government." An economist is likely to respond:
A. yes because this public debt will reduce our ability to borrow the necessary funds from foreign nations. B. yes because a large public debt means that the U.S. government will not be able to meet its financial obligations. C. no because the government can refinance the public debt by selling new bonds. D. no because most of the public debt is held by foreign nations.