How have some patients been harmed by Medicare reimbursement caps?
A) They have been discharged from the hospital too soon, so that the hospital can cut costs.
B) They have been kept in the hospital too long, so that the hospital can get a higher reimbursement amount.
C) They have had to undergo unnecessary procedures, so that the hospital can get a higher reimbursement amount.
D) They have had to wait too long for essential procedures.
Answer: A
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Suppose that firms in a monopolistically competitive industry are earning short-run economic profits. In the long run, the demand curve facing each individual firm can be expected to
a. shift to the left and become flatter b. shift to the left and become steeper c. shift to the right and become flatter d. shift to the right and become steeper e. remain constant
The largest component of aggregate expenditure is
a. consumption spending b. government purchases c. net exports d. capital expenditures e. investment spending
Utility is:
a. the cost associated with an additional unit of product. b. the satisfaction obtained from a good or service provided. c. the value that a third party places on a good or service. d. the price that a seller places on a good or service being provided.
What is the shape of the AS in the short run and the long run?
A. AS is relatively flat in both the short and long runs. B. AS is relatively flat in the short run but steeper in the long run. C. AS is relatively steep in both the short and long runs. D. AS is relatively steep in the short run but flatter in the long run.