One of the challenges for development economists working in health care is to figure out a way to:
A. give incentives to families to make better health care choices.
B. force doctors to practice good medicine.
C. decrease the frequency of preventative medicine, such as immunizing children.
D. All of these statements are true.
Answer: A
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium consumption for this economy.
A. $3,350 B. $3,200 C. $3,000 D. $2,850
When people cannot be excluded from consuming a good, even if they have not paid for the good, competitive markets would
A) produce more of the good than society needs. B) allocate more resources than the efficient amount to the production of the good. C) produce the good so that people could enjoy a "free ride." D) produce less than the efficient quantity. E) eliminate the deadweight loss.
Economists can illustrate an uneven distribution of income by sketching a Lorenz curve that lies above the diagonal
a. True b. False Indicate whether the statement is true or false