Answer the following statements true (T) or false (F)
1) There is a consensus among economists that the amount of resources allocated to the health
care industry is optimal.
2) Some employers have reacted to rising health care costs by hiring more part-time and
temporary workers.
3) About three-fourths of all health care costs are paid out of pocket by patients.
4) In 2011, some 49 million Americans did not have health insurance.
1) F
2) T
3) F
4) T
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Ron regularly deposits $200 each week into a savings account, which earns 3% interest per year. This month he decides instead to invest $200 into the stock market. What is the opportunity cost of Ron's decision to invest rather than save?
A) $200 B) The 3% interest he could have earned by depositing another $200 into his savings account C) The difference between the rate of return he enjoys in the stock market and the 3% interest return he could have earned by depositing that $200 into his savings account D) Zero, because Ron already had the $200