The fact that most medical care purchases are financed through insurance:
A. has no effect on health care consumption because aggregate costs are the same
regardless of payment method.
B. reduces the amount of health care consumed by raising the price of additional units of
care.
C. has decreased health care costs and therefore reduced aggregate health care
expenditures.
D. increases the amount of health care consumed by reducing the price of additional units of
care.
Answer: D
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A Nash equilibrium is
A) reached when an oligopoly's market demand and supply intersect. B) reached when each player chooses the best strategy for himself and for the group. C) an equilibrium comprising non-dominant strategies only. D) reached when each player chooses the best strategy for himself, given the other strategies chosen by the other players in the group.
Refer to above figure. What is the amount of efficiency loss resulting from imposition of the tariff?
What will be an ideal response?
If the amount of money in circulation is $50 million and nominal GDP is $150 million, then the velocity of money is: a. 0.33
b. 2. c. 3. d. impossible to determine from the information provided.
This graph illustrates the marginal costs and marginal benefits of acquiring information before making a major purchase.
If the original curves are MB0 and MC0, the optimal quantity of information about this product is:
A. I3. B. I2. C. I4. D. I1.