Answer the following questions true (T) or false (F)
1. The Japanese system of universal health insurance requires no copayments from residents for health services.
2. A majority of people in the United States do not have private health insurance.
3. Although most large firms in the United States offer their employees health insurance, fewer than two-thirds accept it.
1. FALSE
2. FALSE
3. TRUE
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What would be the effect on the loanable funds market of an increase in the corporate profits tax? (Assume that the government maintains a balanced budget.)
a. The demand for funds would decrease, lowering the interest rate and leading to lower private investment. b. The demand for funds would increase, raising the interest rate and leading to higher private investment. c. Both the demand and the supply of funds would increase, lowering the interest rate and leading to lower private investment. d. The supply of funds would increase, lowering the interest rate and leading to higher private investment. e. The supply of funds would decrease, raising the interest rate and leading to lower private investment.
Which of the following best describes the short-run problem faced by farms?
A. New technology has increased the productivity of farmers and therefore resulted in declining farm prices and low farm incomes. B. The highly inelastic nature of agricultural demand, together with fluctuations in exports of farm goods, has caused small year-to-year fluctuations in farm output to result in highly unstable farm incomes. C. The supply of farm products has increased relative to the demand for them, and because demand is inelastic, prices of farm output and farm income have therefore declined. D. The demand for farm products has increased relative to their supply, but the elastic nature of agricultural demand has caused these shifts to result in declining farm incomes.