Which of the following factors help to explain the sustained increases in health care spending in the United States, and which do not?
a. the additional paperwork, duplication, and waste generated in the U.S. health care system compared to systems in other countries
b. the increasing costs of malpractice insurance and malpractice lawsuit settlements
c. the number of uninsured patients receiving hospital treatment that could have been performed at a lower cost in doctors' offices
d. the slow growth in labor productivity in health care compared to that in the economy as a whole
e. the aging population
f. increases in the cost of providing health care
Factors "d," "e," and "f" do help explain the sustained increases in health care spending in the United States.
Factors "a," "b," and "c" do not explain the sustained increases in health care spending in the United States.
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Which of the following is false?
a. If people can anticipate the plans of policy makers and alter their behavior quickly, their behavior could neutralize the intended impact of government action on real GDP. b. The theory of rational expectations leads to optimistic conclusions regarding macroeconomic policy's ability to achieve its intended economic goals. c. Rational expectation economists believe that wages and prices are flexible, and that workers and consumers incorporate the likely consequences of government policy changes quickly into their expectations. d. Catching consumers and businessmen off-guard with macroeconomic policy changes gets harder the more you try to do it.
An increase in the price of a resource would cause
a. producers to substitute other inputs for the resource. b. consumers to increase consumption of the goods that increase in price as the result of the higher resource price. c. an increase in the demand for products that use the resource intensely. d. a reduction in the price of goods produced with the resource.