Assignment: Economic Theory
Assignment: Economic Theory
71.Free market economic theory was responsible for the recovery from the Great Depression in 1930.
72.John Maynard Keynes, the leading economist of the 1930s, believed that intervening in free markets will cause inefficiencies to develop, make the situation worse, and create additional problems.
73.In a market system, those who own the most highly valued resources have the highest incomes.
74.When the free market reacts to a sudden demand decrease, the equilibrium price and quantity both decrease, some firms exit while others reduce output, but only after a considerable time period.
75.Health care spending does not vary among groups in the U.S. population.
Assignment: Economic Theory
76.In a free market system, only those willing and able to purchase health care will receive health care.
77.There is universal agreement that Americans have a right to health care.
78.The third-party payment system allows many who would not otherwise be willing and able to purchase health care to be able to purchase the care.
79.The market for medical care is a free, unregulated market.
80.The health care restrictions and regulations prevent the entry and exit of firms and prevent the effect of competition on prices.
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