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Describe the distribution of benefits that results from a policy
decision
Step by step
Solved in 2 steps
- Which of the following best describes the moral hazard problem associated with means-tested redistribution programs? A.People may change their behavior to be eligible for the program. B.Eligible people may not sign up for the program due to negative stigma. C.Programs are costly for society. D.Only high risk individuals sign up for programs.People make decisions by comparing marginal benefits with marginal costs. An optimaldecision requires that marginal benefits are above below or equal to marginal costs?The 2010 health reform law fails to provide universal health insurance coverage. T or F?
- It is fair to discriminate in the amount of benefits for life and health policies: between individuals of the same religion between individuals of different classes between individuals of the same race between individuals of the same national originThe ‘Rawlsianism’ approach to social welfare improvement is based on a ‘Pareto improvement’ principle. Do you agree? Explain.Indicate whether the statement is true or false, and justify your answer.Medicaid creates a work disincentive effect even for people currently not working at all.
- Indicate whether the statement is true or false, and justify your answer.Suppose that a state grants Medicaid benefits to a worker only if his income is between $5,000 and $10,000 a year. This will not result in a work disincentive because those who are not working at all cannot receive any benefits.This is the third time. please answer correctly. A characteristic NOT found in a group disability income policy is: A.cost of living adjustment B.benefits based on an employee's income C.medical underwriting D.elimination periodMedicare recipients can purchase supplemental private insurance (known as Medigap insurance) to fill the gap in coverage left by Medicare. This gap includes copayments, deductibles, and prescription drug expenses not covered by Medicare. Several years ago, the government enacted regulations that specify minimum standards for items that Medigap policies must cover. This made the policies more expensive, and as a consequence, about 25 percent of the elderly who would have purchased some Medi-gap insurance purchased none at all [Finkelstein, 2004]. Consider an individual who consumes two goods, "insurance" and "all other goods." The cost of a unit of Medigap insurance is $1, as is the cost of a unit of all other goods. Sketch a budget constraint and set of indifference curves that are consistent with the following scenario: In an unregulated market, an individual with a $30,000 income purchases $5,000 worth of Medigap insurance. The government then puts mandates on Medigap policies that…