The health care market in the United States is characterized by
A. third-party payment of health care costs.
B. asymmetric information between providers and consumers.
C. considerable government involvement.
D. all of these
Answer: D
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Cost-push inflation is due to:
a. raw material cost increases. b. energy cost increases. c. All of the answers are correct. d. labor cost increases.
In the open-economy macroeconomic model, if the supply of loanable funds shifts left
a. the interest rate rises and the supply of dollars in the market for foreign currency exchange shifts right. b. the interest rate rises and the supply of dollars in the market for foreign currency exchange shifts left. c. the interest rate falls and the demand for dollars in the market for foreign currency exchange shifts right. d. the interest rate falls and the demand for dollars in the market for foreign currency exchange shifts left.
With marginal cost pricing
A) marginal benefits are usually less than marginal cost. B) all opportunity costs will be covered in the short run. C) the price charged is equal to the opportunity cost to society of producing one more unit of the good. D) there cannot be any short-run economic profit.
The classical theory of inflation illustrates the relationship among:
A. money supply, output, and the overall level of prices. B. spending, saving, and the overall price level. C. savings, investment, and the interest rate. D. money supply, savings, and investment.