If health care spending is already on the flat of the curve, it may not be possible to improve health status by increasing spending. In this situation, the best way to improve health status may be to:
a. improve overall educational attainment so people can better follow the advice from the medical community.
b. increase the availability of government health insurance.
c. improve life-style decisions by reducing smoking, alcohol consumption, and drug use.
d. invest in biotechnology to determine the genetic factors that improve health.
e. improve access to medical care.
c. improve life-style decisions by reducing smoking, alcohol consumption, and drug use.
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Goodyear produces tires for automobiles, 50,000 in all. Suppose 40,000 go on new cars and are sold as part of each car, while the other 10,000 are produced as replacement tires and are sold individually. How many tires would be counted in current GDP?
a. 50,000 . because everything produced is counted b. 40,000 because only the ones on new cars are counted c. 10,000 because 40,000 will be counted in the value of the new cars d. 0 because they are all intermediate goods e. 10,000 because they are the only "final" goods and services in the total
Suppose that a central bank reduces the money supply growth rate to disinflate. What does disinflation mean? If people do not alter their inflation expectations, what happens to output and unemployment?
A perfectly price-discriminating monopolist:
A. increases both consumer surplus and producer surplus. B. reduces or eliminates the welfare loss from monopoly. C. creates more consumer surplus for the consumer. D. increases the welfare loss from monopoly.
Why might a life insurance company insist on an individual having a physical exam before agreeing to provide life insurance to the individual?
What will be an ideal response?