Some People Have Argued That the Government Should Provide Free

question 26

Multiple Choice

Some people have argued that the government should provide free medical care to everyone. Under this system:

• A)the price of medical care will allocate resources efficiently.
• B)the price of medical care will ration resources efficiently.
• C)prices will not ration medical care so there will be no scarcity.
• D)prices will not ration medical care so some other rationing method will be used.

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Definitions:

Legal Rate

The interest rate established by law that can be charged for borrowing money or the rate at which interest can be paid on a legal judgment.

Specific Rate

A particular or fixed rate that applies to a specific condition or circumstance, often used in finance and taxation.

Negotiable

Capable of being discussed and altered or the property of an instrument (like a check) to be legally transferable to another person.

Payable In

A term indicating the form of payment that is accepted or required, typically referring to currency type or method of payment.