An individual who holds some of her wealth in the form of money in order to pay rent and buy groceries is illustrating the transactions demand for money

Michael spends $10 a month on Pez dispensers and Superman action figures. His marginal-utility-to-price ratio for the Pez dispensers is 40, while his marginal-utility-to-price ratio for Superman action figures is 47 . Explain why Michael is not maximizing his utility and how can he change his behavior to increase his utility?

Which of the following is not an argument used by economists and policymakers who are in favor of moving toward greater government involvement in health care?

A) The increased competition that results from market-based reforms would reduce health care costs and increase economic efficiency. B) A single-payer system would reduce the paperwork caused by the current system. C) The current Medicare system has had lower administrative costs than have private health insurance companies. D) The systems in most other high-income countries have lower levels of health care spending per person which still providing good health outcomes.