Indicate whether the statement is true or false, and justify your answer.There is a consensus among health economists that socioeconomic status has a major impact on health, but health does not have a significant effect on SES.
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A: FALSE.
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Indicate whether the statement is true or false, and justify your answer.
There is a consensus among health economists that socioeconomic status has a major impact on health, but health does not have a significant effect on SES.
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- There is a consensus among health economists that socioeconomic status (SES) has a major impact on health, but health does not have a significant effect on SES. True FalseWhile it may seem intuitively obvious that health expenditures will increase as a population ages – older people after all are less healthy on average than younger people in fact, several prominent health economists have argued that it is not aging per se, but rather some of the correlates of an aging population that cause health expenditures to rise as a population ages. For instance, Getzen (1992) argues that, at least in part, rising health expenditures with an aging population are due to the higher incomes and resources of the older population; health care is a normal good, so higher incomes lead to higher expenditures. In a similar manner, Zweifel et al. (1999) argue that the real problem with an aging population, at least as far as health care costs are concerned, is that there will be more people who are within a couple of years of dying. Since health care expenditures rise sharply close to the end of life, it is this, rather than population aging by itself, that leads to higher…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?
- Describe Grossman's Improvement Model of Health. How does Grossman reconcile health as both something in demand and something produced by individuals?While it may seem intuitively obvious that health expenditures will increase as a population age – older people, after all, are less healthy on average than younger people – in fact, several prominent health economists have argued that it is not ageing per se, but rather some of the correlates of an ageing population that cause health expenditures to rise as population ages. For instance, Getzen (1992) argues that, at least in part, rising health expenditures with an ageing population are due to the higher incomes and resources of the older population; health care is a normal good, so higher incomes lead to higher expenditures. In a similar manner, Zweifel et al. (1999) argue that the real problem with an ageing population, at least as far as health care costs are concerned, is that there will be more people who are within a couple of years of dying. Since health care expenditures rise sharply close to the end of life, it is this, rather than population ageing by itself, that leads to…Sources of data for Market failure in health.
- How can extensive government intervention influence health economicsSuppose consumers consume and gain utility from two types of goods and services – (1) health care and (2) all other goods & services. Using this information, derive the demand curve for health care.Select and explain at least one factor influencing health economics.
- identify the four basic market structures, describe their role within health economics, describe the advantages and disadvantages of each market structure, and provide a specific health-care-related example of each market structure.improvement in technology usually result in lower cost of production or new and improved consumer goods and services .Assume that an improvement in medical technolgy result in an increase in life expectancy for people 65 years and older . How would this technolgical advance be likely to affect expenditure on health care?compare and contrast allocative and regulartory policies in health care
