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April 17, 2014

Homework Help: David L

Posted by Economics on Wednesday, June 11, 2008 at 8:14am.

When economists say that health care services are overconsumed, they mean that:
A. rich people buy too much health care and poor people buy too little.
B. some resources now used in the health care industry could produce alternative goods and services that society values more highly.
C. health care is being purchased in amounts such that marginal benefits exceed marginal costs.
D. the price of health care is below equilibrium so that quantity demanded exceeds quantity supplied.


For most nations, per capita spending on health care tends to:
A. remain constant as per capita income increases.
B. rise much faster than per capita income.
C. rise proportionately with per capita income.
D. fall as per capita income increases.
An increase in the poverty rate:
A. will necessarily shift the Lorenz curve toward the diagonal.
B. will necessarily shift the Lorenz curve away from the diagonal.
C. may leave the Lorenz curve unchanged.
D. normally accompanies strong growth of the economy.

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