Refer to the below table. The efficiency loss caused by the availability of health insurance paying two-thirds of the cost is:
Use the table below to answer the question. The table shows the hypothetical demand and supply schedule for health care
A. $20,000
B. $40,000
C. $60,000
D. $80,000
B. $40,000
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Assume the exchange rate is 1 U.S. dollar equals 1.10 Canadian dollars. If purchasing power parity is correct, a DVD that has a price of $10 in Rochester, New York, in Canada has a price of ________ Canadian dollars
A) 10.00 B) 10.10 C) 11.00 D) 11.11 E) 9.09
If investment increases by $100 and, as a result, gross domestic product (GDP) ultimately increases by $200, the multiplier equals _____
a. 1 b. 2 c. 3 d. 4 e. 5
The invisible hand of the marketplace acts to allocate resources efficiently, but it does not necessarily ensure that resources are allocated fairly
a. True b. False Indicate whether the statement is true or false
If once vaccinated, a person cannot catch a cold or give a cold to someone else, the marginal social benefit resulting from consumption of the vaccine:
A. equals the marginal social cost of producing the vaccine in a competitive equilibrium. B. equals the marginal benefit received by consumers of the vaccine in a competitive equilibrium. C. exceeds the marginal benefit received by consumers of the vaccine. D. is less than the marginal benefit received by consumers of the vaccine.