Indicate whether the statement is true or false, and justify your answer. Aging shifts the marginal efficiency of investment in health curve inward.
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Indicate whether the statement is true or false, and justify your answer.
Aging shifts the marginal efficiency of investment in health curve inward.
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- Indicate whether the statement is true or false, and justify your answer.In the Grossman model, the marginal efficiency of investment in health care declines as health improves.Indicate whether the statement is true or false, and justify your answer. Unlike with most types of goods, deriving a demand curve for health care is quite simple because people rarely skimp on health care.Indicate whether the statement is true or false, and justify your answer.In real life, investments in health can generate long-lasting benefits, but the Grossman model neglects this aspect of health.
- Indicate whether each statement is true or false, and justify your answer.One reason why total health expenditures are rising is because of an aging population.Will insurance prices in 2024 erase the momentum of lower health costs despite the IRA prescription drug efforts?Indicate whether the statement is true or false, and justify your answer.Reducing mortality from one disease necessarily increases the sum of the total mortality risk from all other causes of death.
- Indicate whether each statement is true or false, and justify your answer.The goal of health policy is to maximize health, wealth, and equity.Indicate whether the statement is true, false, or unclear, and justify your answer.When the price elasticity of demand for health care is zero, health insurance coverage induces no moral hazard.One major premise of the Rothschild–Stiglitz model is that there is a perfectly competitive market for health insurance. Suppose instead that the market is not perfectly competitive, and in fact competitor firms have a hard time entering the market. Could a pooling equilibrium occur in this case? What is it about competition that prevents pooling in the Rothschild–Stiglitz model? No formal proof is necessary, but do make your reasoning clear. Evaluate the following statement: competition in health insurance markets is harmful.
- Indicate whether the statement is true or false, and justify your answer.A primary cause of increasing uninsurance in the US over the past decade is that more employers are deciding to stop providing health insurance coverage entirely.Indicate whether the statement is true or false, and justify your answer.Nearly half of expenditures on health care in the US are government financed.In the framework of the Grossman model, suppose there is an increase in the return in alternate non-health market investments. Draw what happens to the MEC curve and the optimal level of health. Explain intuitively why this might be the case in reality.