The moral hazard problem created when consumers acquire health insurance leads them to:
A. Take more care of their health
B. Consume more health care services
C. Seek less care from their physicians
D. Exercise more and eat healthier food
B. Consume more health care services
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A single-price monopoly has a marginal revenue curve that is
A) horizontal and equal to price. B) downward sloping and lies below the demand curve. C) upward sloping and is the same as its supply curve. D) downward sloping and lies above the demand curve. E) vertical at the profit-maximizing quantity.
Advertisers currently spend about $100 million per year to change the demand for products.
Answer the following statement true (T) or false (F)
All of the following can be used to measure macroeconomic performance except for the
A. International value of the dollar. B. Total real value of goods and services produced. C. Growth rate of the population. D. Average price level of goods and services.
In economics, investment always refers to
A. the creation of capital. B. increasing the quantity of labor. C. an increase in per capita output. D. the act of buying stocks or bonds.