Describe the health care industry
What will be an ideal response?
The health care industry covers a broad range of services provided by doctors, hospitals, dentists, nursing homes, and medical laboratories. It employs 17 million people, about 850,000 of whom are physicians. There are about 5800 hospitals containing almost 1 million beds.
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In the circular flow model with the government sector, transfers
A) flow only through the goods market. B) flow in the same direction as do taxes. C) flow in the opposite direction as do taxes. D) to firms flow in the same direction as do rent, wages, interest, and profits. E) to households flow in the same direction as do expenditures on goods and services.
In a two-sided market, the platform may offer different prices to different group of end users due to
A) the budget constraints of end users. B) substitution effects between the end users and the platform. C) different network effects between groups of end users. D) a lack of product differentiation in the products sold.