Explain what is meant by the following sentence: “All Whole Life policies involve prefunding of future mortality costs.”

Q: Areport from the Center for American Progress states that administration costs for health care in…

A: In the American state administrative cost for health care is well above than other high-income…

Q: The 2010 health reform law fails to provide universal health insurance coverage. T or F?

A: The 2010 Health Reform Law was named as Affordable Care Act.

Q: If a wealthy person chooses to spend large sums of money to increase the probability of surviving an…

A: Fatal disease - disease that have high probability that the patient will die.

Q: If there were no third parties in medical care, medical care prices would be lower. Do you agree or…

A: Third parties in medical care increase the price of medical care. If third parties are involved,it…

Q: The government wants to regulate health insurance companies requiring them to provide insurance…

A: Health insurance is an agreement in which the insurance company agrees to compensate the medical…

Q: TRUE or FLASE? A.  The Beveridge model in the United Kingdom reduces moral hazard by having public…

A: A moral hazard in economics is a circumstance when an economic actor is motivated to increase risk…

Q: The goal of health insurance is to O spread financial risk over a large group of people O equally…

A: Health insurance covers all the medical treatment costs for the people.

Q: Suggest several reasons why health care spending is higher in the United States than in other…

A: There are many reasons behind the higher spending of the U.S in healthcare in comparison to other…

Q: Based on Friedman and savage utility of income what factors affect demand for health insurance?

A: According to friedman income and wealth of person determines demand for health insurance.

Q: Explain how an “individual mandate," where every resident of a country is required by law to…

A: Insurance is a way used by individuals and firms to prevent any event from having a huge detrimental…

Q: While the individual mandate clause in the Affordable Care Act (also known as, Obamacare) was still…

A: There are various economic factors that results in market failure .such factors include adverse…

Q: What is market failure? What are the major reasons that a free, unregulated market in medical care…

A: The economic condition described by the inefficient distribution of products and services in the…

Q: While it may seem intuitively obvious that health expenditures will increase as a population ages –…

A: Since there is a rise in life expectancy in the nation, there will be a rise in the per capita…

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: Using inequity in access to health care as your reference point, explain the economic significance…

A: Health care is considered to be an important sector that provides a major contribution to the…

Q: Build and secure a market based economic intervention to address the social determinants of health.

A: Market based economic intervention for building health determinants would be to increase medical…

Q: Many consider the profit motive of physicians and hospitals a moral hazard, and if patient care…

A: Moral Hazards: Moral hazards refers to the situation where a person’s risk is borne by another…

Q: What is "The Effects of the Epidemic on Costs of Living between Several Family Income" study's…

A: Introduction, Even by end of 2021, Covid-19 will have cost countries an estimated US$11 trillion.…

Q: In what sense is the individual considered a “producer” of health in the Grossman model?

A: It is well said that unhealthy countries tend to be poor which means poor countries tend to be…

Q: Do countries with national health insurance programs have lower average medical costs than the…

A: Do countries with national health insurance programs have lower average medical costs than the…

Q: if a patient pays his surgeon before she performs the surgery, is this adverse selection or moral…

A: The adverse selection problem refers to the situation where the one party has more information about…

Q: What is the arc price elasticity of demand for health care in Japan based on these data? c. Using…

A: Price elasticity of demand is a measure of the change in the quantity purchased of a product in…

Q: The major reason the United States does not have a national health care program is because its…

A: Meaning of Health Economics: Here, the term health economics refers to the scenario under which…

Q: continuing to 65 years, 75 years, and death.  The following table summarizes some of

A: Cost is the total amount being spent for the goods or services which tends to include money,time and…

Q: Explain how each of these situations will affect the quantity demanded of health insurance:   d)…

A: Healthcare prices are not really dictated by supply and demand. Once more, the public authority…

Q: According to Henderson, what are the three alternatives strategies (U.S. Policy Alternatives)…

A: Free-market competition, according to economists, provides the most effective production and…

Q: TRUE or FALSE? A. In the Bismarck Model in Germany queues and waiting lists for care are a…

A: UK health care industry is better than US health care industry as the former's health outcomes are…

Q: Firms that provide workers with health insurance may pay a lower wage to obese workers than to…

A: Obesity makes a person unhealthy and that person falls sick very frequently. Firms are usually…

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: The U.S. health care system is changing, including becoming more data-driven, evidence-based,…

A: Medical education establishes a commitment to learning over the course of a physician's career to…

Q: In Carpenter (2002) the influence of pressure groups is measured using: Select one: O a. The number…

A: Pressure group: Pressure gatherings might address a strong minority force in the public eye and…

Q: According to the article which of the following statements about the dutch disease are correct?

A: The term "Dutch disease" refers to the negative consequences that can result from a rise in the…

Q: It is difficult to argue against the scientific merit of medical discoveries such as treatments for…

A: Scientific merit alone is not sufficient to justify the allocation of medical expenses to cases of…

Q: The UN Committee on Economic, Social, and Cultural Rights (CESCR) is charged with interpreting the…

A: It qualifies individuals for a system of health security, including the anticipation, treatment and…

Q: Empirical evidence suggests that state laws mandating health insurance coverage for alcoholism…

A: The state laws mandating health insurance coverage for alcoholism treatment lead to moral hazard on…

Q: People who drop out of high school are able to produce more health than college graduates because…

A: The production possibility frontier of an economy shows the different combinations of two goods an…

Q: According to Health Economists, “more protection does not always lead to less disease”; using the…

A: As per the quote "more protection does not always lead to less disease" is a general statement which…

Q: In the Grossman model, the marginal efficiency of investment in health care declines as health…

A:

Q: How is the moral hazard problem relevant to the health care market?

A: Moral hazard- When a party to a contract can take chances without having to bear consequences, moral…

Q: )Vaccine B)Patient advocate (social worker) C)Life insurance D)Privately purchased a kn

A: Healthcare goods and services are those goods and services which are related to medical and…

Q: How would functionalists, conflict theorists and symbolic interactionists suggest that health care…

A: According to the functionalists, good health and the effective medical care are the essentials for…

Q: The biggest difference between Beveridge- and Bismarck-style health systems is:   a. Beveridge…

A: 1. The Beveridge model gives health care for all citizens and government finances it through tax…

Q: Explain Due care theory. On what ground due care theory was criticized.

A: The Due Care theory contends that makers have particular information that purchasers don't so they…

Q: Make the business case why healthcare providers should advocate for expansion of insurance coverage…

A: Overview: Number of poor people who are received the coverage of health insurance policy is less…