Have market forces failed in keeping healthcare costs under control?
a. Yes; in most high-income countries healthcare is a socialized industry and costs have been kept low.
b. Yes; the government has allowed market forces to determine costs, yet healthcare spending continues to rise rapidly.
c. No; government regulations have undermined the operation of markets and created perverse incentives that have led to rising prices and soaring healthcare expenditures.
d. No; market forces have been allowed to determine costs and those costs have remained low relative to the consumer price index.
C
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In the above figure, a minimum wage of ________ would result in employment of ________
A) W2; L1 B) W2; L2 C) W1; L1 D) W1; L2
Which of the following is true about government activity in the United States?
a. Macroeconomic policy is handled mainly at the state level. b. Higher education is handled mainly at the national level. c. Primary and secondary education is handled mainly at the local level. d. Primary and secondary education is handled mainly at the national level. e. Police and fire protection are handled mainly at the state level.