The problem of asymmetric information is that:
A. neither health care buyers nor providers are well-informed.
B. health care providers are well-informed, but buyers are not.
C. the outcomes of many complex medical procedures cannot be predicted.
D. insurance companies are well-informed, but policy purchasers are not.
Answer: B
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Answer the following statement(s) true (T) or false (F)
1. If a firms fixed costs increase from $2,000 to $3,000, then its marginal cost is $1,000. 2. If a firm can sell one more unit of its product for $7 and the marginal cost of producing that one more unit is only $5, then it should definitely produce and sell one more unit.
The core values of development include
a. increasing income per person. b. reducing the inequality of income. c. the ability to meet basic needs. d. all of the above.
Which person has the highest opportunity cost of obtaining a college degree (assuming that attending college requires giving up his or her current position)?
a. Bill, who is unemployed. b. Jane, who is an unwed mother and earns $15,000 a year. c. Larry, who is a technician in the Navy earning $18,000 a year with free food and housing. d. Mary, who has a job earning $60,000 a year as a computer programmer. e. Unable to determine from the data given.
A call option is in the money if the futures price is greater than the strike price.
a. true b. false