In what ways do economists and policymakers who believe that market-based reforms are the key to improving the health care system criticize the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
These people believe that the market for health care should change so it is more like the markets for other goods and services, where the prices consumers pay and that suppliers receive would do a better job of conveying information on consumer demand and supplier costs. Increased competition in the market for health care services would reduce costs and increase economic efficiency. Those in favor of market-based reforms criticize the ACA for not adopting this approach.
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If the natural unemployment rate decreases, then the short-run Phillips curve ________ and the long-run Phillips curve ________
A) does not shift; shifts leftward B) shifts leftward; shifts leftward C) shifts rightward; shifts rightward D) shifts leftward; does not shift E) shifts rightward; shifts leftward
Firms in a high-wage nation such as the U.S. can compete effectively with imports from low-wage nations if
a. skill levels are identical in the nations b. the U.S. reduces tariffs on imports c. low-wage nations impose tariffs on U.S. made goods d. labor productivity is higher in the low-wage nation e. labor productivity is higher in the U.S.
What will happen to the demand for reserves if real GDP increases?
a. It will shift outward. b. It will shift inward. c. It will remain unchanged. d. It depends on what happens to interest rates.
Why do monopolistic firms practice international dumping?
a. They face the same demand conditions in their domestic and foreign markets. b. They face more elastic demand conditions in their domestic market than in their foreign markets. c. They face more elastic demand conditions in their foreign market than in their domestic market. d. They are able to take advantage of increasing costs.