Consensus research concludes that medical technology is responsible for much of the increase in medical care spending over the past several decades.This probably means
a. That better availability means wider use.
b. That poorer availability means less use and poorer health outcomes.
c. That medical care is increasingly expensive
d. All of the above are correct.
C
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If the price of gasoline increases significantly, then we'd expect the demand curve for large trucks and SUVs to
A. become upward-sloping. B. shift to the left. C. not shift, but there will be a movement along that demand curve. D. shift to the right.
Refer to Figure 5-10. One way to obtain the economically efficient amount of chicken pox vaccinations is for governments to subsidize these vaccinations
What is the size of the per-vaccination Pigovian subsidy that the government must provide to internalize the external benefits? A) (PE - PF) B) PE C) (PF - PG) D) (PE - PG)
A perfectly competitive firm in the short-run maximizes its profit by producing the output where:
a. marginal cost equals price. b. marginal cost equals marginal revenue. c. total revenue minus total cost is at a maximum. d. all of these.
Within the framework of the AD-AS model, an increase in savings by households will
a. increase the supply of loanable funds and reduce interest rates. b. be offset by a decrease in savings by businesses. c. cause long-run fluctuations in the rate of consumption. d. result in a decline in aggregate demand, output, and employment.