All of the Following Questions or Statements Regarding Medical School

question 80

Multiple Choice

All of the following questions or statements regarding medical school are positive except

• A)How do changes in expected future incomes affect the decisions of medical students about which specialty to choose?
• B)Medical students who enter specialized fields make a larger contribution to society than do student who enter primary care.
• C)What role does tuition play in a student's decision about whether to attend medical school?
• D)Have tuition increases had a large effect or a small effect on the number of applications to medical school?

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Definitions:

Externalities

Indirect effects of production or consumption activities on third parties, which can be either positive or negative and are not reflected in market prices.

Ideal Economic Efficiency

A state where resources are allocated in the most efficient way possible, maximizing total net benefit to society or economy.

Government Failure

Situations where government interventions in the economy lead to inefficient outcomes, worsening the problem they intended to solve.

Efficient Allocation

The optimal distribution of resources among competing uses, aiming to maximize the overall benefit or utility from those resources.