Assume health insurance is provided universally by the government. This would
A) eliminate the problems of adverse selection.
B) result in adverse selection.
C) eliminate the problems of moral hazard.
D) All of the above.
A
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Based on the above table, as the production of pizza increases, the opportunity cost of pizza in terms of forgone cases of soda
A) increases. B) decreases. C) does not change. D) initially increases then decreases.
The utility of a good is:
a. different for different consumers. b. the same for all consumers. c. constant no matter how much is consumed. d. related to the cost of producing it. e. easily measured.
If the demand curve is perfectly inelastic, then an increase in supply will: a. increase both the price and the quantity exchanged
b. increase the price but result in no change in the quantity exchanged. c. increase the quantity exchanged but result in no change in the price. d. decrease the price but result in no change in the quantity exchanged.
Current income minus spending on current needs equals:
A. wealth. B. investment. C. transfers. D. saving.