Those who oppose consumer-driven health care assert that:
a. CDHC will benefit those in good health, but will increase the burden on those with serious health problems
b. in many situations, consumers are not really capable of making informed choices about their own health care
c. both of the above
d. neither of the above
Answer: c. both of the above
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Adverse selection in insurance requires that
a. potential customers face different levels of risk b. potential customers facing more risk are no more interested in purchasing insurance c. people are not risk averse d. insurers can tell higher risk people from lower risk people
A nation can determine how close it is to the classical range by considering its:
a. Export position. b. Net export position. c. Exchange rate. d. None of the above.
The price faced by a perfectly competitive firm is
A. determined by market demand and supply. B. the same as the market demand curve. C. the same as the market supply curve. D. the same as the firm's marginal cost curve.
The opportunity cost of attending college might best be described as
A. the lowest-valued alternative use of the student's time. B. the value that the student attaches to not working. C. the highest-valued alternative use of the student's time. D. the money that must be paid in order to attend college.