A general sales tax is a unit tax placed on all retail sales. a. True b. False ANSWER b
Date: September 9th, 2020
Medical savings accounts _____. a. provide insurance for very small health care expenditures b. provide little accountability for small purchases c. provide catastrophic coverage d. all of the above e. a and b ANSWER c
Date: September 9th, 2020
The Medicaid program is financed by _____. a. excise taxes b. state governments c. the federal government d. state governments and the federal government ANSWER d
Date: September 9th, 2020
Politicians have an incentive to favor short-run policies because _____ a. because voters suffer from myopia b. of special interests c. they may be voted out of office before long-run policies bear fruit d. of rational ignorance ANSWER c
Date: September 9th, 2020
The above figure shows Bobby’s indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from an increase in the price of soda. From the graph, one can conclude that A) Bobby views soda as an inferior good. B) Bobby’s demand for soda is perfectly inelastic. C) […]
Date: September 9th, 2020
A majority of federal revenue once came from tariffs. a. True b. False ANSWER a
Date: September 9th, 2020
Assuming that the median voter model accurately explains how public sector decision are made, resources will be allocated efficiently if _____. a. preferences are single-peaked and individuals prefer outcomes closer to their preferred outcome rather than outcomes farther away b. rational ignorance and cyclical majorities are not present c. resources were already allocated efficiently in […]
Date: September 9th, 2020
While Medicaid is targeted towards low-income individuals, exact qualifications are determined by _____. a. the Department of Health and Human Services b. state governments c. local governments d. judicial rulings ANSWER b
Date: September 9th, 2020
The Canadian health care system _____. a. is an example of a single-payer system b. provides universal coverage c. rations the use of specialists d. all of the above ANSWER d
Date: September 9th, 2020
User charges are identical to market prices. a. True b. False ANSWER b
Date: September 9th, 2020
