A physicians' professional association supports legislation seeking higher quality medical care. According to the special interest theory of regulation, who likely will benefit most from this legislation?
a. Government, through decreased regulation of physician quality.
b. Patients, through reduced prices for medical care.
c. Physicians, through increased prices for medical care.
d. Hospitals, through decreased for physicians' services.
e. Government, since higher quality health care is clearly in the public interest.
C
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A change in the price level changes the amount of nominal money people demand
Indicate whether the statement is true or false
Which of the following is true?
a. Monetary policy influences long-term real interest rates more than short-term interest rates. b. Short-term interest rates are primarily determined by real factors and the expected inflation. c. A shift to a more expansionary monetary policy will tend to reduce short-term interest rates. d. A shift to a more expansionary monetary policy will tend to reduce the expected rate of inflation in the future.