A single-payer system, in which the government pays for all medical expenses for everyone, would eliminate all of the following problems EXCEPT the
A. uncertainty problem.
B. third-party payer problem.
C. adverse selection problem.
D. poverty problem.
Answer: B
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Risk can often be reduced by investing in a large number of projects
Indicate whether the statement is true or false
Refer to Figure 10-1. Which of the following statements is true?
A) Quantities Q0 and Q1 are the utility-maximizing quantities of hoagies at two different prices of hoagies. B) Quantities Q0 and Q1 are derived independently of the utility-maximizing model. C) Quantity Q0 could be a utility-maximizing choice if the price is $5.75, but quantity Q1 may not be because we have no information on the marginal utility per dollar when price changes. D) Quantities Q0 and Q1 may not necessarily be the utility-maximizing quantities of hoagies at two different prices because we have no information on the consumer's budget or the price of other goods.
Which organization officially tracks all business cycles in the U.S. economy?
a. Department of Commerce b. National Bureau of Economic Research c. Bureau of Economic Analysis d. Census Bureau
Using a graph, explain why the law of supply holds for a competitive firm.
What will be an ideal response?