Government decision makers worldwide are concerned with the excessive growth in medical care spending. When looking for areas to cut, they typically rely on the low-hanging fruit, which includes:
a. surgeries treating acute conditions that are not life threatening.
b. end-of-life care.
c. pharmaceutical drugs targeting chronic conditions.
d. preventive care.
e. basic diagnostic screenings.
b. end-of-life care.
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Which statement is true?
A. The entire expansion from the trough to the peak is the recovery phase. B. The entire contraction from the peak to the trough is the recession phase. C. Recessions never last more than one year. D. Prosperity is the first phase of expansion.
During World War II, price supports for agriculture:
a. were not generally needed because of high demand. b. were considered by Congress but never enacted. c. were rescinded in order to encourage reductions in output. d. led to decreases in the supply of many products.
Oligopolistic firms never collude because they have almost no incentive to do so
a. True b. False Indicate whether the statement is true or false
Social welfare functions can be formed in many ways. They can be additive, meaning that the all utilities curves are added together. They incorporate the idea of least-best, meaning that the utility of the person with the least is maximized. If you were a central planner for an economy, what type of social welfare function would you create?
What will be an ideal response?