Recipients of Medicare tend to demand a greater quantity of low-value, high-cost services because
A. recipients are coerced into demanding such services.
B. the government mandates that they demand such services.
C. the services are readily available.
D. the services are heavily subsidized.
Answer: D
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Suppose the Herfindahl-Hirschman Index (HHI) in the market for chocolate is 3,200. Two companies want to merge. The FTC definitely will challenge the merger if it increases the HHI by more than
A) 150 points. B) 100 points. C) 40 points. D) 200 points.
Refer to Figure 22-2. Assuming no technological change, if the United States increases capital per hour worked by $40,000 every year between 2012 and 2016, we would expect to see
A) real GDP per hour worked will be lower in 2016 than it was in 2012. B) the per-worker production function will get flatter over time. C) real GDP per hour worked will increase by the same increment each year between 2012 and 2016. D) the per-worker production function will shift up every year there is increase in capital per hour worked.