What would happen in the market for knee replacement surgery if insurance companies started to cover a smaller portion of the cost of the surgery?
A) Supply will decrease, but this will not shift the demand curve.
B) Demand will decrease and supply will increase.
C) Demand and supply will both decrease.
D) Demand will decrease, but this will not shift the supply curve.
D
You might also like to view...
In an effort to protect endangered species from the effects of logging in America's national forests, the federal government passes a law prohibiting logging in most of the state of Washington
Which of the figures above best illustrates the effect of this new law? A) Figure A B) Figure B C) Figure C D) Figure D E) None of the above because a prohibition cannot be illustrated using demand and supply figures.
The easiest way to create greater income equality is to _____
a. raise everyone's income by the same percentage b. raise everyone's income by the same amount c. raise the incomes of the poor d. lower the incomes of the rich
Which of the following government aid programs exists to provide medical insurance to certain low-income people, including those living below the poverty line?
a. Medicare b. Social Security c. Medicaid d. Supplemental Security Income
Which of the following countries had the highest hourly manufacturing compensation costs in 2009?
A. The United States B. Japan C. China D. Germany