The study of the choices made by individuals is part of the definition of

Usury laws result in banks making less credit available to lower-income households because

A) higher-income households will pay a higher interest rate than lower-income households. B) loans made to higher-income households have no risk. C) loans to lower-income households are riskier than loans to higher-income households. D) the regulated interest rate does not adequately compensate the bank for the risk of the loan to a lower-income household.

Which of the following is a close approximation of the price elasticity of demand for health care?

a. 0.2 b. 0.8 c. 1.8 d. 4.0