To make things simpler and focus attention on what really matters, economists
A) use assumptions. B) respond to incentives.
C) think at the margin. D) ignore all variables.
A
Economics
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One reason the Medicare system costs so much is
A) the amount of medical services is determined by the equilibrium of supply and demand. B) the supply of medical services does not respond to price changes. C) supply and demand analysis does not apply. D) beneficiaries are entitled to receive services for which the per-unit cost exceeds their own personal out-of-pocket payment.
Economics
SNAP (food stamps) and Medicaid are examples of:
A. money transfers B. resource earnings C. in-kind transfers D. tax expenditures
Economics