The health care system in ________ is referred to as socialized medicine, under which the government owns most of the hospitals and employs most of the doctors
A) Canada B) Japan
C) the United Kingdom D) the United States
C
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Which of the following is a "free" good?
A) Elderly health care, which is covered by Medicare B) Health care for the poor, which is covered by Medicaid C) Higher education in Georgia, which is paid for by lottery revenue D) All of the above. E) None of the above.
The level of output at which all economies of scale have been exhausted is known as
A) constant returns to scale. B) optimal economic size. C) minimum efficient scale. D) the economically efficient output level.
Suppose real money demand is L = 0.8 Y - 100,000 (r + ?e). If the nominal money supply is 12,000, real output is 15,000, the real interest rate is .02, and the expected inflation rate is .01, then the price level is
A) 3/4. B) 1. C) 4/3. D) 3.
Appendix: Each partner in a simple profit-sharing contract that splits the independently verifiable sales revenue minus unobservable cost has an incentive
a. to reject an automatic renewal of the contract b. to understate fixed cost c. to overstate avoidable cost d. to understate customer loyalty for repeat purchases e. to renew the partnership contract