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- Which of the following is NOT one of the 6 reasons health care is so expensive in a USA? A. Doctor's/ Nurse's salaries are too high B.US population is too big C.Drug costs are increasing D. Hospitals are for profitWhich of the following best describes a weak form of market efficiency?A. it reflects all public and private informationB. the market responds immediately to any new informationC. the market price is based on historical informationD. all of the choices are correctE. all of the choices are incorrect1-5. Write True if the statement is always correct for imperfect markets, otherwise, write False and explain.
- Analyse the role of market failure as a justification for government intervention.Government intervention is one possible solution for market failure. What is one possible reason why a government-controlled used car market may not provide an efficient outcome? SELECT THE CORRECT ANSWER a. Consumers do not buy products from government-controlled markets. b. There is no remedy for market failure in this market. c. The government does not have the resources to control the used car market. d. Government actors may have their own incentives that might not align with market efficiency.Markets will always create more efficient outcomes without government intervention. true or false
- Create one “pro” paragraph in support of the issue and one “con” paragraph against the issue about Mandatory American Health Insurance_____ is when everyone in a country is covered by insurance that is run and administered by the government. This strategy is effective at combatting _____. a. Means tested health insurance; adverse selection b. Universal public health insurance; adverse selection c. Universal public health insurance; moral hazard d. Compulsory insurance; moral hazard e. Compulsory insurance; monopoly pricing f. Means tested health insurance; moral hazardEvaluate the arguments for government intervention in the markets.