Author Question: Refer to Figure 9-4. Under autarky, the consumer surplus is area A) R + S + V. B) S. C) R. D) S + ... (Read 91 times)

ssal · **on:** Jun 29, 2018

Refer to Figure 9-4. Under autarky, the consumer surplus is area

A) R + S + V. B) S. C) R. D) S + V.

Question 2

What are the problem with Medicare and Medicaid?

What will be an ideal response?

vish98 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

C

Answer to Question 2

The government expenditure on Medicare and Medicaid are determined by the quantity of healthcare demanded, not by a fixed government budget. The scale of expenditure on Medicare and Medicaid in the United States is much than that in other rich nations. The U.S. population is aging. Older people demand more healthcare services than do younger people. Consequently, without changes in the Medicare and Medicaid programs, the expenditure on these programs, already huge, will increasingly grow.