Commodity money has value only because people have put faith in the money and accept that it has value

What is one potential problem with nationalized health care?

A) It might not reduce moral hazard. B) It is guaranteed to solve the principal-agent problem. C) It would be efficient in risk bearing. D) It might cost too much.

If the output of product X is such that marginal benefit equals marginal cost:

A. the correct amount of resources is being allocated to X's production. B. the value of producing X exceeds the value of producing alternative products with the available resources. C. there can be a net gain to society by allocating either more or less resources to producing X. D. resources are overallocated to the production of X.