Health care reform will lead to a(n) ____ in the number of new, young health care recipients which will cause the ____ of moral hazard problems associated with health insurance
a. increase; elimination
b. increase; worsening
c. decrease; elimination
d. decrease; worsening
b
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Some individuals seek to use government action to make themselves better off at the expense of others. The actions of these individuals
A) are evidence of the voting paradox. B) are examples of fraud; but these individuals usually avoid prosecution because of logrolling and rational ignorance. C) offer proof that Adam Smith's "invisible hand" is not valid. D) are examples of rent seeking.
Which of the following countries has a Lorenz curve that is furthest away from the perfect equality line? a. Brazil
b. The United States. c. Czech Republic d. All have equal income distributions.
It is impossible for total utility to be ________ when marginal utility is ________.
A. increasing; decreasing B. positive; negative C. decreasing; positive D. increasing; increasing
The law of increasing costs states that
A. opportunity costs decrease as more of one good is produced. B. increasing resource prices are inevitable because of scarcity. C. opportunity costs increase as more of one good is produced. D. resources can be easily adapted to the production of any good.