What has happened to health care spending and the quality of health care services in the United States over the past 50 years?
What will be an ideal response?
Health care spending has increased from about 5% of total spending to about 17% of total spending. Health care services have greatly improved, demonstrated by increases in life expectancy at birth, significantly lower infant mortality rates, and longer life expectancy for the average 65-year-old man.
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When the slope of the total product curve is steep, the marginal product is
A) zero. B) negative. C) high. D) low. E) not defined.
A demand elasticity coefficient is a measure of the sensitivity of quantity demanded to a change in one of the determinants of demand
Indicate whether the statement is true or false
The optimal collective decision rule is found where _____
a. decision-making costs are minimized b. the sum of the external and decision-making costs are minimized c. marginal political costs and marginal political benefits are equalized d. external costs are minimized
Which of the following is NOT a true statement about the Lorenz curve?
A) The Lorenz curve includes both money income and income in kind. B) The Lorenz curve does not include unreported income obtained from the underground economy. C) The Lorenz curve does not consider different sizes of households. D) The Lorenz curve does not consider age differences among wage earners.