Economics (Irwin Economics)
21st Edition
ISBN: 9781259723223
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 24, Problem 3DQ
To determine
The features of Medicaid and Medicare and their funding.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Which Medicare programs are covered by ACA Section 1557 under the Biden Administration's Proposed Rule?
O a. Parts A and B (Original Medicare) only.
O b.
Part C (Medicare Advantage) only.
c.
Parts A. C. and D. and as proposed Part B.
Part D (prescription drug coverage) only.
Od.
Health care expenditures coming directly out of consumers' pockets, primarily in the form of deductibles and
copayments, account for what
care spending?
O 18 percent
35 percent
44 percent
O 21 percent
8 What is meant by the tax subsidy of employer-paid health insurance? Explain why the
subsidy very likely increases health care spending and thus the cost of such insurance.
Give an example as to why a $5,000 health insurance benefit provides a greater mon-
etary benefit to someone in the 33 percent marginal tax bracket than someone in the
15 percent marginal tax bracket.
Chapter 24 Solutions
Economics (Irwin Economics)
Ch. 24 - Prob. 1DQCh. 24 - Prob. 2DQCh. 24 - Prob. 3DQCh. 24 - Prob. 4DQCh. 24 - Prob. 5DQCh. 24 - Prob. 6DQCh. 24 - Prob. 7DQCh. 24 - Prob. 8DQCh. 24 - Prob. 9DQCh. 24 - Prob. 10DQ
Ch. 24 - Prob. 11DQCh. 24 - Prob. 12DQCh. 24 - Prob. 13DQCh. 24 - Prob. 14DQCh. 24 - Prob. 15DQCh. 24 - Prob. 16DQCh. 24 - Prob. 17DQCh. 24 - Prob. 18DQCh. 24 - Prob. 1RQCh. 24 - Prob. 2RQCh. 24 - Prob. 3RQCh. 24 - Prob. 4RQCh. 24 - Prob. 5RQCh. 24 - Prob. 6RQCh. 24 - Prob. 7RQCh. 24 - Prob. 1PCh. 24 - Prob. 2PCh. 24 - Prob. 3P
Knowledge Booster
Similar questions
- 6 Explain why does the government act as a producer of health insurance for certain population group?arrow_forwardIn 2017, health care spending in the US accounted for approximately of the GDP. O 5% 17% 25% 38% 45% QUESTION 2 Without any change to the health insurance system, by 2082, health care spending in the US is expected to reach 5% 18% 25% 49% QUESTION 3 The main reason why health care spending is increasing over time is O Increasing administrative costs Increasing uncompensated care O population aging increase in sophistication and quality of medical services the Affordable Care Act QUESTION 4 Regarding health insurance, the number of uninsured individuals in the US is approximately 8 million 18 million. 28 million 48 million 98 million of the GDP.arrow_forward18. Which of the following best describes the major problems of health care in the U.S? O Poor results - U.S. lifespan is among the lowest of the high-income countries while infant mortality is among the highest. Both high costs and poor results in terms of life span and infant mortality. Lack of choice - there is only one U.S. health insurer, which is a regulated monopoly. High costs - the U.S. spends more on health care than any other country.arrow_forward
- Atl Econ J (2013) 41:8991DOI 10.1007/s11293-012-9342-2ANTHOLOGYSocial Capital and Income Inequality in the UnitedStatesRati RamPublished online: 17 October 2012# International Atlantic Economic Society 2012Many scholars have explored in recent years various correlates and consequences ofsocial capital along with discussions of the concept. For example, relationship ofsocial capital with population happiness, health, income, economic growth, andhuman development has been researched by several scholars. However, very fewstudies have considered the relationship between social capital and income inequality.One exception to that is the recent work by Robison et al. (Journal of SocioEconomics, 2011) which proposed a theoretical link between social capital andincome distribution and conducted an empirical exploration for the U.S. states forthe census years 1980, 1990, and 2000. Their key measure of social capital wassomewhat narrowly focused on percent of households headed by a single female…arrow_forwardLIVING IN SPAINJackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private…arrow_forwardSuppose you are a politician being criticized in a debate for your commitment to reducing the growth of medical spending. Which of the following is the most appropriate response? O a. There is empirical evidence that medical spending should be capped at 15 percent of GDP. O b. Reducing wasteful health care spending could provide additional funding to the education sector. O c. High health care spending is harmful to bur economic well-being. O d. Fixing treatment prices will lead to greater innovation. Oe. Other developed nations spend far less of their GDP on health care.arrow_forward
- Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…arrow_forwardJackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…arrow_forwardSuppose that someone wants to present data on health expenditures by different levels of educational attainment and produces the following table: Table 1 Less than high school High school degree Some college Associate's degree Bachelor's degree Graduate degree All consumers Drugs 447 454 473 582 551 675 515 Health care 2217 O O Appropriate use of decimal places O Appropriate title O Appropriate use of color Appropriate use of lines 3119 3289 3630 4340 5067 3556 Health insurance 1318 1901 1823 2086 2503 2880 2061 Consider the table carefully. The items below represent a set of considerations for making good visualizations. Which one of these is clearly wrong? Appropriate font sizes Appropriate labels Appropriate use of font styles Appropriate use of bold/italicsarrow_forward
- Question 11 Assume that a "bundle" of health care goods is indexed to $100 in 1950, and a "bundle" of all goods is also indexed to $100 in 1950. Furthermore, assume that the medical care consumer price index (CPI) grows at 6% per year, while the general CPI grows at 4.2% per year. After 5 years, approximately how much does does the bundle of health care goods cost? $130 $100 1/1 pts $134 $123arrow_forward14 Imperfect competition and moral hazard. Some economists have argued that moral hazard and monopolistic health care markets are two socially inefficient problems that e 19bnu partially cancel each other out. Relative to the optimal level of health care Q*, how much health care is provided in the presence of moral hazard? Assume perfectly competitive health care markets. a bns b Relative to the optimal level of health care Q*, how much health care is provided in m the presence of monopolistic health care markets? Assume no moral hazard. A bne c Write a one-sentence defense of the argument that moral hazard and imperfectly competitive health care markets could combine to provide a good level of health care provision Q. d Gaynor and Vogt (2000) contend that this argument is not quite right. Draw your own version of the Pauly tradeoff diagram (Figure 11.8) with a locus of feasible contracts under moral hazard and perfect competition in the health care market. Now draw a new focus of…arrow_forward6. What are the features of health service provision in India? What are the steps required to impr accessibility of health services in India?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSON
Engineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education