When medical fee schedules are negotiated by two monopolists—one representing patients and one representing providers—the equilibrium medical fees will:
a. be less than fees determined by patient groups alone.
b. be greater than fees determined by provider groups alone.
c. depend on the relative bargaining strengths of the two groups negotiating the fee schedule.
d. be less than fees determined in a competitive market.
e. be greater than fees determined in a competitive market.
c. depend on the relative bargaining strengths of the two groups negotiating the fee schedule.
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Which of the following is included in the computation of gross domestic product?
(a) Government transfer payments, such as unemployment benefits (b) Purchases of used goods, such as used cars (c) Child care tasks performed by househusbands (d) Total value of business inventories (e) Additions to business inventories
Fiat money: a. has value because people accept it
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