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Market Failure, Public Sector and Public Choice( from chapters 7, 8 and 9)
Would a tax on prescriptions drugs be more likely to be progressive or regressive? Why?
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- Which of the following are ways that a private insurance company or the federal government controls rising prescription drug expenditures? (Choose all that apply) a. Three tiered formularies b. Cost sharing c. Annual limits on the number of prescriptions that can be filled d. Mandatory substitution of generics e. Price controlsHow should individuals in society respond to government-imposed vaccinations?Do you believe expenditures for child care and fitness facilities are warranted from a cost-benefit perspective? Why or why not?
- Would a tax on prescriptions drugs be more likely to be progressive or regressive? Why?What are the potential benefits of reducing the availability of illegal drugs versus reducing the demand for such substances?If a food product is found to be imminently hazardous, which of the following actions are not remedies that the FDA may pursue? A. Require a recall. B. Seek civil penalties. C. Seek criminal penalties. D. Force the dissolution of the offending company.
- . “Drug use is a classic example of a victimless crime.Therefore it should not be prohibited.” Comment.If the government wishes to make its population pursue a healthier lifestyle by creating a reduction in the demand for packets of cigarettes, examine and discuss how this can be implemented without government having to directly increase the price of a packet of cigarettes. Motivate your answer with a diagram.Identify the initial equilibrium price and quantity of the drug per day. Suppose the government imposes a price control at $1.50 a dose. How many doses are purchased after the price control is imposed?
- One rationale for imposing taxes on alcohol consumption is that people who drink alcohol impose negative spillovers on the rest of society—for example, through loud and unruly behaviour or intoxicated driving. If this rationale is correct, in the absence of governmental taxation, will people tend to consume too much, too little, or the right amount of alcohol?Why does taking a drug off a formulary increase the prices to the consumer?Use the theories of market failure and government intervention to analyse the motives of government, the anti-vax phenomenon and their consequences. What, if anything should government do to make more people get vaccinated? What would be the problems with such interventions?