Which of the following grew rapidly during the years following the passage of the Medicare and Medicaid programs?
a. the share of healthcare expenditures financed by third parties
b. the prices of healthcare relative to the prices of other goods and services
c. expenditures on healthcare as a share of the economy
d. all of the above
D
Economics
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How does adverse selection affect the insurance market?
Economics
Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was and eight years later was
A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000
Economics