Mid-1960s amendments to the Social Security Act created
a. managed care.
b. Medicare and Medicaid.
c. major medical insurance.
d. Blue Cross and Blue Shield.
e. tax exemptions for health insurance as an employee benefit.
B
Economics
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Would you expect the income elasticity of demand for Cadillacs to be positive or negative? Why is this true?
What will be an ideal response?
Economics
In a perfectly competitive industry, assume there is a permanent increase in demand for a product. The process of transition to a new long-run equilibrium will include:
a. the exit of firms. b. temporarily lower production costs. c. both a and b. d. neither a nor b.
Economics