Medicare subsidies will cause people to
A) perceive the price they pay per unit of medical services to be lower than the price received by the provider.
B) perceive the price they pay per unit of medical services to be higher than the price received by the provider.
C) perceive the price they pay per unit of medical services to be exactly equal to the price received by the provider.
D) demand fewer services.
Answer: A
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The price a monopolist sets is equal to:
A. marginal cost. B. average revenue. C. marginal revenue. D. average total costs.
For an open economy, national savings can be:
A. the same as investment. B. less than investment. C. more than investment. D. All of these are true.
According to the Solow model, which type of government spending is more likely to raise the long-term growth rate of output per person, spending on infrastructure or spending on research and development?
What will be an ideal response?
Economists use models in order to
a. experiment with alternative circumstances. b. make educated guesses about real life events. c. predict outcomes under various hypothetical conditions. d. increase understanding of how a relationship actually works. e. All of the above are correct.