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Question
Macroeconomics
Posted 5 months ago
A government is concerned about whether young children in a community are receiving enough healthcare.
Which of the following is the LEAST likely to increase the amount of healthcare that people provide their children?
Choose 1 answer:
(A) subsidize healthcare
(B) increase the price of healthcare
(c) reduce the distance traveled to get healthcare
(D) Provide coupons for free healthcare
(E) Lowering regulations on who can provide healthcare, such as allowing nurses to provide healthcare rather than just doctors
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Answer from Sia
Posted 5 months ago
B
Key Concept
Price Effect on Demand
Explanation
Increasing the price of healthcare is likely to decrease the quantity demanded, making it the least likely option to increase the amount of healthcare provided to children. According to the law of demand, as the price of a good or service increases, the quantity demanded generally decreases, ceteris paribus.
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