An advantage of a unit tax is that the relative price changes have no effect on the tax per unit. a. True b. False ANSWER a
Date: September 9th, 2020
When the government produces and sells water, some of the revenues earned represent taxation. a. True b. False ANSWER a
Date: September 9th, 2020
It is often said that if we could get more individuals to study the issues and vote we could have significant change through the ballot box. While true in a technical sense, which of the following statements best explains why this outcome is ¬not likely to occur? a. Individuals have double-peaked preferences and thus cyclical […]
Date: September 9th, 2020
A Health Maintenance Organization is _____. a. a multi-doctor office b. a type of pre-paid health care c. a series of specialty hospitals d. increasingly rare ANSWER b
Date: September 9th, 2020
A tax that is based on the value of a good or service is an excise tax. a. True b. False ANSWER b
Date: September 9th, 2020
Even when preferences are _____, the _____ will produce a single winner. a. not single peaked; equilibrium b. single peaked; log-rolling c. cyclical; majority rule system d. cyclical; primary system ANSWER d
Date: September 9th, 2020
HMOs create the incentive to _____. a. minimize health care expenditures b. avoid important but expensive procedures c. enroll individuals with serious illnesses d. a and b ANSWER d
Date: September 9th, 2020
Economists call the fact that the general public has little incentive to become informed about most political issues _____. a. rational ignorance b. irrational voting c. a diminishing political marketplace d. cyclical political institutions ANSWER a
Date: September 9th, 2020
A tax on a specific good or service is called an ad valorem tax. a. True b. False ANSWER b
Date: September 9th, 2020
Under a “cost-plus” system of hospital reimbursement, hospitals have the incentive to _____. a. minimize expenditures b. purchase the most recent high-tech equipment c. release patients early d. shift away from more expensive surgeries ANSWER b
Date: September 9th, 2020
