Consider a population of 500 families. 300 have private insurance, 100 have Medicaid, and 100 are uninsured. Suppose that Medicaid expands eligibility, and now the 100 uninsured families are now all eligible for Medicaid coverage. After one year, we see that 275 families have private insurance, 175 have Medicaid, and 50 are uninsured. In this case, the private insurance crowd-out rate associated with Medicaid expansion is what percent?
Q: You are given the following situations: (I) A whole life insurance policy is calculated using…
A: According to 2012 data: Mortality rate of Canadian male smoker = 34.2% or 0.342 Mortality rate of…
Q: Emerging markets and developing economies grew consistently in the two decades before the COVID-19…
A: Income inequality is something that considers the distribution of income in the economy. Income…
Q: Suppose that your utility function over health care (h) and other goods (c) is given by U(h, c) and…
A: Since, the question has several parts and it is not mentioned which parts need to be solved. As per…
Q: Preventive care is not always cost-effective. Suppose that it costs $100 per person to administer a…
A: Part a) providing a $100 exam to 100 citizens will be a sum of $10,000 (=100*$100). If 15% of the…
Q: Assume that you want to decide whether Country A or Country B to live You have only information…
A: People's perspective to live in one country depends on social and economic conditions. If we take…
Q: ast year, some persons were hoping and praying for a vaccine to be developed to fight against Covid…
A: Vaccines, infrastructure to conduct the programme and maintain the cold chain, and…
Q: The U.S. health care delivery system has been criticized for its structural defects: high costs,…
A: Through the analysis of healthcare providers, hospitals, clinics, managed care, and public health…
Q: The table lists visits for each of the four clinics operated by your system. You anticipate that…
A: Period Clinic1 Clinic2 Clinic3 Clinic4 Total This year 16,640 41,600 24,960 33,280 116,480 Next…
Q: What does Lawson mean by a community of care (or Eudaimonic Bubble) and what does he see as being…
A: The National Health Service (NHS) is one of the four NHS systems in the United Kingdom and is funded…
Q: Explain the concept of universal health coverage and the strategies employed in Caribbean countries…
A: The basic provision of health care to all individuals and communities, regardless of their financial…
Q: Which of the following is the most accurate statement regarding the problem with using life…
A: Life expectancy is one of the economic measures that is used to analyze the health of the people of…
Q: On average which group is less healthy than the other group? Highly educated individuals vs.…
A: In an economy, discrimination can be seen in every aspect of society, such as at the workplace,…
Q: Which type of medical services suffers LEAST from the uncertainty problem? preventative services…
A: Uncertainty Problem is the situation where you do something about which you are not sure which leads…
Q: What is asymmetric information? Give one example of asymmetric information in a market other than in…
A: Asymmetric information: It is also referred to as information failure. It happens when one party…
Q: How can you relate the Population Theory of Robert Thomas Malthus to the COVID-19 Pandemic that we…
A: In this theory, Robert Thomas Malthus's explained that populations would continue expanding until…
Q: Suppose Homer and Smithers are in the same health insurance pool and they pay the same premium for…
A: Answer - Negative Externality - It is a cost that is suffered by a third party as a consequence of…
Q: The primary source of funding for the Medicare program is from premiums assessed on the elderly…
A: PLEASE FIND THE ANSWER BELOW.
Q: which option is correct about Medicare and Medicaid? Medicaid is a federally-sponsored program…
A: Medicare is the the federal government program that covers only the people above 65 and disabled…
Q: explain State policies that mandated the release of physician report cards were greatly beneficial…
A: Several states have begun publishing hospital report cards as a result of state legislative…
Q: Prior to the outbreak of COVID-19, the US spends less than 5% of overall health care spending on…
A: The healthcare system of the United States of America is an amalgamation of public and private…
Q: n general, the highest performing low- to middle-income countries considered are those with the most…
A: In general, It is believed that the highest performing low- to middle-income countries considered…
Q: The ACA re-organized the non-group market (into so-called Marketplaces in each state) with new rules…
A: The Affordabe Care Act (ACA) that was administered under the Obama administration was a major…
Q: describe how COVID-19 may differentially affect families across the socioeconomic spectrum. That is,…
A: Concerns of a new recession and financial collapse require strong and resilient leadership in…
Q: The cost of employer-sponsored health care benefits are expected to approach $16,800 per employee…
A: Opportunity cost refers to the next available option that would have been chose in the absence of…
Q: As most countries, including Lesotho, are dealing with the second wave of coronavirus, policymakers…
A: The covid 19 pandemic has made some governments to impose lockdown shuttering businesses and…
Q: Consider the Figure, which depicts a scenario in the Rothschild–Stiglitz model of adverse…
A: a. The point α represents an insurance package where every insurance company is offering the…
Q: What proportion on the GDP is spent on health care? 0.2 0.75 0.18 0.30 QUESTION 2 Which of the…
A: GDP: It refers to the goods and services which have been produced in the economy. The more the goods…
Q: Medicare and Medicaid provide disproportionate-share payments to hospitals whose patients are mostly…
A: Answer given below,
Q: The ACA emphasized population health for the first time in US history, since it aimed to get all…
A: Population health is the group outcomes of health outcomes of individuals, including the…
Q: The age structure in a country does not necessarily reflect its burden of dependency. S2: In the…
A: C. False, True
Q: give two strategies that will help make Canadian health care systems more inclusive and equitable…
A: Answer Strategies that will help make Canadian health care systems more inclusive and equitable are…
Q: Which of the following results from a process in which the individual can only influence the…
A: Health is a finished condition of physical, mental, social and otherworldly prosperity not simply…
Q: Based on Arrow’s impossibility theorem Highest level of health, wealth, and equity are…
A: Arrow's impossibility theorem may be a social-choice paradox illustrating the issues of ranked…
Q: Explain how market justice and social justice complement each other, yet also clash and collide with…
A: Social justice:- Social justice is a moral and ideological concept which claims that the idea of…
Q: Union membership in the United States is lower than in many other high-income countries due to…
A: Trade unions or labor unions are associations founded by employees in similar professions to further…
Q: Consider the following information: Patients who are given Treatment A live for one year in Health…
A: Given information Treatment A Health state q=0.8 for year 1and for 2nd year health state q=0.5…
Q: Are comparative population health outcomes of the U.S. and Mexico very different? Comment and…
A: Health care industry is an industry which includes provision of medical facilities to the people of…
Q: You are given the following situations: (I) A whole life insurance policy is calculated using…
A: According to 2012 data: Mortality rate of Canadian male smoker = 34.2% or 0.342 Mortality rate of…
Q: The ACA re-organized the non-group market (into so-called Marketplaces in each state) with new rules…
A: In a recent study, it was reported that 31 percent of individuals with non-group coverage are…
Q: The problem of asymmetric information is that Multiple Choice neither health care buyers nor…
A: In a manner, asymmetric information is considered as one of the causes of market failure.
Q: Given standard deviation of two per capita incomes and the percentiles per capita income, what can…
A: Standard deviation of data provides an idea about how much the data is dispersed from the central…
Q: Social Security benefits are increased each year in proportion to the increase in the CPI, even…
A: Inflation refers to the overall increase in the price level in the economy. The increase in the…
Q: Information is an integral part of many public health programs that can be considered as public…
A: As a public asset with potential for global reach, knowledge helps us to know our rights and…
Step by step
Solved in 2 steps with 1 images
- 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…. Consider two communities. In one community,ten families have incomes of $100,000 each and tenfamilies have incomes of $20,000 each. In the othercommunity, ten families have incomes of $250,000each and ten families have incomes of $25,000 each.a. In which community is the distribution of incomemore unequal? In which community is theproblem of poverty likely to be worse?b. Which distribution of income would Rawls prefer?Explain.c. Which distribution of income do you prefer?Explain.d. Why might someone have the oppositepreference?Preventive care is not always cost-effective. Suppose that it costs $100 per person to administer a screening exam for a particular disease. Also suppose that if the screening exam finds the disease, the early detection given by the exam will avert $1,000 of costly future treatment. a. Imagine giving the screening test to 100 people. How much will it cost to give those 100 tests? Imagine a case in which 15 percent of those receiving the screening exam test positive. How much in future costly treatments will be averted? How much is saved by setting up a screening system? b. Imagine that everything is the same as in part a except that now only 5 percent of those receiving the screening exam test positive. In this case, how much in future costly treatments will be averted? How much is lost by setting up a screening system?
- Suppose a particular population has two kinds of health risks, high and low. Let the expected annual health care costs for the high risk be $10,000, and for the low risk, half that. If there are twice as many low risk as high risk individuals, and if the one insurer’s administrative load is 20%, what would the community rated premium be if everyone is compelled to and able to buy health insurance? Note: administrative load can be construed as the amount that the insurer has in costs to run the plans above and beyond the "health care costs."How do you draw a health production function with individuals receiving some health producing intervention as inputs and health benefits as outputs that shows declining returns in output. What does “declining returns” imply about the marginal health benefit per person served/treated along this production function? How does this relate to “specialization of inputs”? How about “selection to treatment”? If we assume that you have two distinct means of producing health (programs A & B) with identical PFs as you drew above. Given a fixed amount of inputs (e.g. ability to treat/serve some number of individuals), draw the production possibilities frontier curve for these two programs. What is an opportunity cost and how does it relate to the PPF curve? If our value the health benefits from both programs equally, what point (label as X) do you pick on the PPF curve and why? Suppose program A works best for children, and program B best for adults, and you value health…assume there are two types of workers, low- and high-ability, and let 0 = 0.25 be the proportion of high-ability workers in the population. Assume their marginal productivity and, therefore, their wages are wh = $20 and wl = $16, and that both types can use college education to signal high ability. The cost of college education for low-ability workers is cl = $5 whereas the cost for high-ability workers is ch = $2. How much do firms pay to each worker type when they cannot differentiate them? (a) wh = $20 and wl = $16 (b) wh = $2 and wl = $5 (c) w = $17 (d) w = $18
- Do you think Canada's universal health care program can alleviate problems caused by moral hazard and adverse selection in the private insurance markets? Why or why not? John's utility curve over total wealth is given by U(W) =VW (i.e. square root of W). Suppose that he has a 50% chance of being healthy. If he is healthy, he gets all his wealth-$10,000. If he becomes sick, he only has $3,600 remaining after medical expenditures. Calculate John's wealth and utility when he does and does not get sick, his expected utility, expected wealth, and his expected loss. Now he has the option of buying health insurance Calculate the maximum amount John would be willing to pay to fully insure against the cost of the sickness. How much is the actuarially fair and risk premium? Suppose that society consists of large, equal numbers of identical male and identical female consumers. Male consumers are similar to John; female consumers differ only in that they face a 25% probability of being sick, but…Tom, who has a utility-of-wealth function U(w) = ln(w + 10), has $500 of income before tax and is taxed at a rate of 25% of earned income. If he is caught underreporting his income he will have to pay the taxes owed and in addition will pay a fine of $2 for every dollar of income he failed to report. How much income will he conceal (i.e., fail to report) if the probability of being caught is 0.1? Also find the market opportunity line and determine the minimum amount of fine such that there is no tax evasion at all.Suppose Bethilda earned $30,000 at her last job where she faced a 3% chance of dying on the job. Now Bathilda earns $27,000 at a new job where she faces a 2% chance of dying on the job. What is Bethilda’s implied Value of a Statistical Life? What are the uses of this measure?
- As the coronavirus spreads across the globe, it appears to be setting off a devastating feedback loop with another of the gravest forces of our time: economic inequality. In societies where the virus hits, it is deepening the consequences of inequality, pushing many of the burdens onto the losers of today’s polarized economies and labor markets. Research suggests that those in lower economic strata are likelier to catch the disease. They are also likelier to die from it. And, even for those who remain healthy, they are likelier to suffer loss of income or health care as a result of quarantines and other measures, potentially on a sweeping scale. At the same time, inequality itself may be acting as a multiplier on the coronavirus’s spread and deadliness. Research on influenza has found that in an epidemic, poverty and inequality can exacerbate rates of transmission and mortality for everyone. This mutually reinforcing cycle, experts warn, may be raising the toll of the virus as it is…Consider the Figure, which depicts a scenario in the Rothschild–Stiglitz model of adverse selection.a. Explain why α is not a valid pooling equilibrium.b. Explain why your answer to the previous question depends on an assumption that expected utility theory holds.c. Suppose the Pcorian government is trying to maintain α as a pooling equilibrium to ensure universal insurance for its long-suffering populace. The government health minister is familiar with the work of Kahneman and Tversky and wants to take advantage of the fact that Pcorians are loss averse and susceptible to framing. When a private insurance company begins offering contract δ, how should the government frame the tradeoff between α and δ to try to keep robust customers at α?Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now puts much of that progress at risk while further widening the gap between rich and poor. Despite the pre-pandemic gains in poverty reduction and lifespans, many of these countries have struggled to reduce income inequality. At the same time, they saw persistently high shares of inactive youth (i.e., those not in employment, education, or training), wide inequality in education, and large gaps remaining in economic opportunities for women. COVID-19 is expected to make inequality even worse than past crises since measures to contain the pandemic have had disproportionate effects on vulnerable workers and women. Based on the above mentioned text briefly answer the following questions (draw figures wherever required): What is the basic measurement of income inequality?