Other things being equal, a national health insurance program would
A. generate higher life expectancies and lower infant mortality rates.
B. generate lower life expectancies and higher infant mortality rates.
C. increase the quality of life.
D. increase total health care expenditures.
Answer: D
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Other things remaining the same, the quantity of a good or service demanded will increase if the price of the good or service
A) rises. B) falls. C) does not change. D) rises or does not change. E) rises or falls.
A firm sells in a competitive market in which price is $10 . Its marginal cost is 2 + .5Q. Determine the profit-maximizing level of output
Suppose the central bank implements expansionary monetary policy where the money supply increases. Which of the following will tend to occur in the long run as a result of this monetary policy action?
A. Output will increase with no change in the price level. B. Output and the price level will both increase. C. an increase in the price level and no change in output D. no change in either the price level or output
Quasiconcave production functions give rise to convex producer choice sets.
Answer the following statement true (T) or false (F)