Suppose That in a Free Market, 2,000 Patients Purchase an Operation

question 160

Multiple Choice

Suppose that in a free market, 2,000 patients purchase an operation to receive an artificial heart at a price of $500,000 per operation.Without the heart, each patient will die.The government decides this price is too high and imposes a maximum price of $200,000.Everything else equal,

• A)more patients will now die.
• B)fewer patients will now die.
• C)more patients will now die only if the demand curve is vertical.
• D)more patients will now die only if the demand curve is horizontal.

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Definitions:

Conference Committees

Special joint committees formed to reconcile differences in bills passed by the House and Senate, aiming to reach an agreement on a single version of the bill.

Political Parties

Organizations that seek to achieve power within a government through the election of their candidates to public office.

Bills Introduced

The initial step in the legislative process where proposed laws are presented for consideration to a legislative body.

Die In Committee

A legislative term referring to a bill that is not advanced out of a committee to be voted on by the larger legislative body, effectively halting its progress.