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- 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.Medicare 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…Indicate whether the statement is true or false, and justify your answer.Sickness funds in Bismarck health care systems are publicly administered and financed.
- Those without any health insurance in the U.S. tend to be the following groups, except Group of answer choices those who are in excellent health and those with the poorest health. workers in small firms. minimum-wage workers. those receiving Social Security payments.Price elasticities of the demand for health care are usually much lower (in absolute terms) at the individual provider level than at the aggregate level. a.True b.FalseIndicate whether the statement is true or false, and justify your answer.If a disease is shown to have a surprisingly high prevalence elasticity of demand for self-protection, policymakers should conclude that an eradication campaign is going to be more difficult than expected.
- The American system of health care is financed by a mix of private and government insurance programs that pay over 80 percent of the health care bills for U.S. citizens. O True O FalseEven with the new incentives for new insured enrollees to access primary care services there are more than enough general practitioners to meet the demandA typical supply curve shows that an increase in the price of a good will cause producers to decrease the quantity they supply. a) True ( b) False The unemployment rate measures individuals 16 years of age and older without jobs who are actively seeking employment. ( a) True ( b) False It is important that any government examine multiple measures of its own economic health, rather than relying on simply one or two dimensions. () a) True ) b) False
- Indicate whether the statement is true or false, and justify your answer.In Canada, unlike in the US, the gap between rich children and poor children in health status does not widen as children age.Indicate whether the statement is true or false, and justify your answer.One hundred percent of health expenditures in Beveridge countries is publicly financed.The price elasticity of demand for health care has been estimated to be −0.2. Characterize this demand as price elastic, unit price elastic, or price inelastic. The text argues that the greater the importance of an item in consumer budgets, the greater its elasticity. Health-care costs account for a relatively large share of household budgets. How could the price elasticity of demand for health care be such a small number?