Health care that actually harms the patient, such as an adverse reaction to a prescription drug is called:
a. adverse selection.
b. morbidity-related response.
c. moral hazard.
d. defensive medicine.
e. iatrogenic disease
e. iatrogenic disease
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If there are an estimated 20,000 barrels of unknown reserves of oil, annual consumption of oil is 800 barrels, and it is estimated that the supply of oil will be depleted in 50 years, how many barrels of known reserves of oil are there estimated to
be, all else equal? A) 1,250 B) 16,000 C) 20,000 D) 320,000
In the above figure, curve b shows the
A) bottles of soda that people are willing to forgo to get another bicycle. B) bottles of soda that people must forgo to get another bicycle. C) benefits of producing more bicycles is greater than the benefits of producing more soda. D) benefits of producing more soda is greater than the benefits of producing more bicycles.
In the above figure, the amount of the tax per unit imposed on the sellers is
A) $0.50. B) $1.00. C) $1.50. D) $2.00.
Under an average cost pricing rule, a regulated natural monopoly ________ and there is ________
A) makes an economic profit; a deadweight loss B) makes zero economic profit; no deadweight loss C) makes zero economic profit; a deadweight loss. D) incurs an economic loss; no deadweight loss