Author Question: The downward-sloping line in the diagram below shows the combinations of healthcare and education ... (Read 71 times)

Ethanolson3 · **on:** Oct 12, 2022

The downward-sloping line in the diagram below shows the combinations of healthcare and education expenditures that the government can afford with a given amount of tax revenue.

FIGURE 1-6

Refer to Figure 1-6. Suppose the government's current spending is shown by point D. In this case,

◦ the prices of education and healthcare have increased beyond the government's ability to pay.
◦ the government is not spending its total available budget for these two items.
◦ more healthcare expenditures can be achieved only by sacrificing some existing education expenditures.
◦ the government is spending more than its total budget.
◦ more education expenditures can be achieved only by sacrificing some existing healthcare expenditures.

Rcfelber · **Reply #1 on:** Oct 12, 2022

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