Consumers usually pay less than the total cost of medical treatment because
A) a third party, usually an employer, often pays most of the bill.
B) competition forces doctors and hospitals to charge prices that do not cover their costs.
C) the federal government pays for most medical procedures.
D) a third party, usually an insurance company, often pays most of the bill.
D
Economics
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The view that expectations change relatively slowly over time in response to new information is known in economics as
A) rational expectations. B) irrational expectations. C) slow-response expectations. D) adaptive expectations.
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