One of the best examples of managed competition in practice is:
a. health maintenance organizations (HMO).
b. consumer-directed health plans (CDHP).
c. accountable care organizations (ACO).
d. the Federal Employee Health Benefit Plan (FEHBP).
e. preferred provider organizations (PPO).
d. the Federal Employee Health Benefit Plan (FEHBP).
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The excludability versus nonexcludability issue is
A. relevant to the issue of market failure. B. not relevant to the issue of market failure. C. relevant to the free-rider problem. D. a and c E. b and c
Underemployment occurs when workers
a. are not employed. b. are working at jobs that do not require their full skill or productivity. c. work part-time although they want to work full-time. d. are working at jobs that do not require their full skill or productivity AND work part-time although they want to work full-time.
Suppose that a tax is placed on a particular good. If the buyers end up bearing most of the tax burden, this indicates that the
a. demand is more inelastic than the supply. b. supply is more inelastic than the demand. c. government has required that buyers remit the tax payments. d. government has required that buyers remit the tax payments.
The collection and use of data to test economic theories is
A. normative economics. B. descriptive economics. C. positive economics. D. empirical economics.