Individuals on opposite sides of the political spectrum typically voice opposite viewpoints on universal access and universal coverage. What is the difference between the two concepts?
a. Republicans typically support universal coverage; Democrats support universal access.
b. Universal access guarantees that everyone that wants it has health insurance.
c. Universal access usually requires mandatory participation; universal coverage is a voluntary system.
d. Universal access means that everyone has access to medical treatment from the provider of his or her choice.
e. Universal coverage guarantees that everyone will have access to health insurance coverage.
c. Universal access usually requires mandatory participation; universal coverage is a voluntary system.
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The rate of interest banks charge each other for lending reserves is the:
A. Federal funds rate. B. Discount rate. C. Money multiplier. D. Excess reserve rate.
If there is inflation, then a firm that has kept its price fixed for some time will have a
a. high relative price. Relative-price variability rises as the inflation rate rises. b. high relative price. Relative-price variability falls as the inflation rate rises. c. low relative price. Relative-price variability rises as the inflation rate rises. d. low relative price. Relative-price variability falls as the inflation rate rises.
Assume that the supply of coffee in a competitive market decreases. What will most likely happen to the equilibrium price and quantity of coffee?
a. Price will increase; quantity will increase b. Price will decrease; quantity will increase c. Price will increase; quantity will decrease d. Price will decrease; quantity will decrease
Which type of model can account for all types of allocating and coordinating mechanisms, even those without explicit money prices?
A. Butterfly effect B. Expression C. Shadow price D. Path-dependent