One reason health insurance is very expensive is because
A) it is likely a nearly fair insurance policy.
B) it is subject to manipulation through market power.
C) the government doesn't regulate the industry enough.
D) it is likely an unfair insurance policy.
A
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A best response is ________
A) one player's optimal action choice irrespective of the action of the other player B) one player's optimal action choice taking the other player's action as given C) an action choice that always results in a zero payoff to the opponent D) an action choice that results in equal payoffs to all the players in a game
In a closed economy, which of the following equations reflects investment? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y - T + TR B) Y - C - T C) C + G -T D) Y - C - G
The cross-price elasticity between Gillette razors and a related good is -3.4. What happens to the demand for the related good if the price of Gillette razors falls by 10 percent?
A) The quantity demanded of the related good falls by 34 percent. B) The quantity demanded of the related good rises by 34 percent. C) The quantity demanded of the related good rises by 3.4 percent. D) The quantity demanded of the related good falls by 3.4 percent.
Which of the following could explain a fall over time in the price of the depletable resource bauxite?
A. The productivity of bauxite mines fell. B. New deposits of bauxite were discovered. C. Demand for bauxite increased over time. D. The cost of extraction increased.