The experiences of Singapore, Whole Foods Markets, and the State of Indiana all point to one major factor that could reduce, if not eliminate, overconsumption of health care. And that is:
A. Reducing the coverage of insured illnesses
B. High out-of-pocket costs to consumers
C. Raising the health-insurance premiums
D. Privatizing health insurance
B. High out-of-pocket costs to consumers
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If the current level of GDP exceeds full employment, the level of GDP can be reduced by
A) reducing the money supply. B) lowering interest rates. C) increasing spending. D) reducing taxes.
Your friend has just received a new book he ordered and you want to borrow it. Your friend values reading the book at $10, while you are willing to pay a maximum amount of $15 to read it
a) What is the equilibrium outcome in this case? b) Will the outcome be any different if you own a book that your friend wants to read? Assume that the value that each of you places on this book is the same as that you placed on the previous book.