If the supply of health care services is highly inelastic, programs that subsidize the cost of purchasing medical services will
a. lead to higher prices for medical services.
b. lead to lower prices for medical services.
c. not affect the price of medical services.
d. help the buyers of medical services more than the sellers of those services.
A
You might also like to view...
Describe how the Fed uses open market operations to change short-term and long-term interest rates
What will be an ideal response?
In which form of business is a single individual responsible for the repayment of any debts?
A. Proprietorship. B. Partnership. C. Family-run business. D. Corporation.
If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line. B. negatively sloped and "bowed inward" toward the origin. C. negatively sloped and "bowed outward" from the origin. D. a positively sloped straight line.
In 2009, we ran a ________ on our current account and a _______ on our capital account.
A. deficit; deficit B. surplus; surplus C. deficit; surplus D. surplus; deficit