Empirical research indicates that the 2014 expansion of Medicaid has led to a number of unintended consequences including:
a. more physicians accepting new Medicaid patients.
b. fewer Medicaid enrollees seeking emergency room treatment.
c. an increase in the birthrate among the eligible population.
d. higher per capita spending on the expansion population than anticipated.
e. expanded opiate use among the elderly.
d. higher per capita spending on the expansion population than anticipated
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Pluralistic ignorance exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
If the graph shown represents Heather's budget constraint, and the price of hairbands were to decrease, the slope of Heather's budget constraint would become:
A. flatter, reflecting the fact that hairbands are now relatively less expensive.
B. steeper, reflecting the fact that hairbands are now relatively more expensive.
C. flatter, reflecting the fact that earrings are now relatively less expensive.
D. steeper, reflecting the fact that earrings are now relatively more expensive.
Public goods are both rival and nonexclusive
a. True b. False
Paul the Pizza Man used a new method to streamline pizza assembly that allowed him to make more pizzas and thus make greater revenue. Paul began to earn positive economic profits. In the long run, Paul will
a. continue to earn economic profits b. earn zero economic profits because other pizza places will begin to use his system c. continue to earn economic profits because Paul will get a patent on his new method d. earn negative economic profits because innovators always loose money e. earn zero economic profits because the government does not allow monopolistically competitive firms to earn economic profits