Refer to the diagram that shows the market for U.S. health care. Other things equal, which of the following would shift the demand curve for medical care from D 1 to D 2 ?
A. Higher copayments and deductibles in insurance policies.
B. An aging population.
C. Cutbacks in the government's Medicaid program.
D. Restrictions by firms on the eligibility of part-time workers for medical benefits.
B. An aging population.
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The price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency is called the ________ exchange rate.
A. fixed B. real C. flexible D. nominal
The long-run perfectly competitive equilibrium
A. results in normal profits. B. is not economically efficient. C. will never change once it is realized. D. is realized only in constant-cost industries.
If the price of a barrel of oil is $100 this year and the interest rate is 10 percent, then according to the Hotelling Principle the price next year is expected to be ________ per barrel
A) $90 B) $110 C) $100 D) None of the above is correct.
Suppose that the government provides a subsidy for the consumption of good X. The demand curve with the subsidy will lie to the ______________ of the demand curve without the subsidy, and the equilibrium price of good X will be __________ with the subsidy than without.
A. right; lower B. left; lower C. left; higher D. right; higher