Which one is the right answer?

58. Free market economists argue that a. markets will not adjust to a demand shock without government intervention b. government intervention is necessary to get the economy back on track c. markets will adjust to a demand shock without government intervention d. central planners are best equipped to handle external shocks and get the economy back on track it would take government too long to intervene and get the economy back on track. 59. When competition is limited, i.e., entry restricted, consumers pay _ prices and have quantity of the product. a. higher; more b. higher; less t. lower; more d. lower; less e. the same; the same 60. Many people claim that the free market fails regarding all of the following except: a. health care b. fast food restaurants c. the environment d.illicit drugs e. none - the free market has failed regarding all of these 61. Health economics is important to study for all of the following reasons except: a. Spending for health care in the U.S. exceeds $2 trillion. b. Health care expenditures have risen from 5.9% of GDP in 1965 to over 16% of GDP today. Only 1% of the population account for almost 30% of total health care expenditures. d. The elderly are the smallest users of health care, and the young are the major users. e. None - all of these are true. 52 Supporters of the current U.S. health care system do not argue that a. even though per capita spending on health care in the U.S. exceeds that of every other nation, U.S. health care is not as good as that found in other nations. b. there are political divisions in opinions about how the U.S. health care system compares with other countries. C. life expectancy is a poor choice of measure of the quality of health care, as life expectancy is a function of lifestyle more than health care. d. measures differ from country to country, e.g., certain "live births" in the U.S. would be considered "stillborn" in another country e. None - supporters of the current U.S., health care system cite all of these