Some economists have argued that certain characteristics of the delivery of health care justify government intervention. One of these characteristics is
A) health care is a public good.
B) health care is nonrivalrous and nonexcludable.
C) health care generates negative externalities.
D) health care generates positive externalities.
Answer: D
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In a graph that illustrates a perfectly competitive firm, marginal revenue is
A) a diagonal line that lies below the firm's demand curve. B) a line that intersects the firm's demand curve from below at its lowest point. C) the same as the firm's demand curve. D) a line that intersects the firm's average total cost curve from below at its lowest point.
When a bank accepts a checkable deposit from a customer, its deposits will increase and its excess reserves will:
A. Increase by the same amount as deposits B. Increase by less than the deposits C. Increase by more than the deposits D. Decrease