Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
expand_more
expand_more
format_list_bulleted
Question
Chapter 16, Problem 18APA
(a)
To determine
The definition of a “free rider”.
(b)
To determine
Free riding problem and its elimination
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
How should individuals in society respond to government-imposed vaccinations?
What is the opportunity cost of having health insurance? What is the opportunity cost of not having health insurance
What Social Determinant of Health is the most important in determining better health and health outcomes?
Chapter 16 Solutions
Macroeconomics
Ch. 16.1 - Prob. 1RQCh. 16.1 - Prob. 2RQCh. 16.1 - Prob. 3RQCh. 16.1 - Prob. 4RQCh. 16.2 - Prob. 1RQCh. 16.2 - Prob. 2RQCh. 16.2 - Prob. 3RQCh. 16.2 - Prob. 4RQCh. 16.3 - Prob. 1RQCh. 16.3 - Prob. 2RQ
Ch. 16.3 - Prob. 3RQCh. 16.3 - Prob. 4RQCh. 16.3 - Prob. 5RQCh. 16 - Prob. 1SPACh. 16 - Prob. 2SPACh. 16 - Prob. 3SPACh. 16 - Prob. 4SPACh. 16 - Prob. 5SPACh. 16 - Prob. 6SPACh. 16 - Prob. 7SPACh. 16 - Prob. 8SPACh. 16 - Prob. 9SPACh. 16 - The Economics of Healthcare (Study plan 16.3) Use...Ch. 16 - Prob. 11APACh. 16 - Prob. 12APACh. 16 - Prob. 13APACh. 16 - Prob. 14APACh. 16 - Prob. 15APACh. 16 - Prob. 16APACh. 16 - Prob. 17APACh. 16 - Prob. 18APACh. 16 - Prob. 19APACh. 16 - Prob. 20APACh. 16 - Prob. 21APACh. 16 - Prob. 22APACh. 16 - Prob. 23APACh. 16 - Prob. 24APA
Knowledge Booster
Similar questions
- Explain how the opioid epidemic could be ia supply problem caused by the oversupply of prescription pain meds, drug traffickers and illegal drug manufacturers. Draw a graph.arrow_forwardExplain and justify how the budget use to paid the health workers in the mids of pandemic without any delay and with benefits.arrow_forwardUse 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?arrow_forward
- Imagine that a town of 200 people is trying to decide whether to pay for mosquito control. The town has surveyed their citizens and they each say they value mosquito control at $75. Mosquito control only costs $2,500 so the town goes ahead and pays for the service. When the town asks for donations to pay for the mosquito control, they only receive $1,000. What does this result show? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The town's citizens were free riders. b The mosquito control suffered from the tragedy of commons. The mosquito control cost must have been greater than its economic benefit. d. The town's survey must have overestimated the value of mosquito control.arrow_forwardHow can you relate the changes in vaccines to overall growth in the economy and the production possibilities curve?arrow_forwardThe 2010 health reform law fails to provide universal health insurance coverage. T or F?arrow_forward
- Ralph will consume any health care service just as long as its MB exceeds the money he must pay out of pocket. His insurance policy has a zero deductible and a 10 percent copay, so Ralph only has to pay 10 percent of the price charged for any medical procedure. Which of the following procedures will Ralph choose to consume? a. An $800 eye exam that has an MB of $100 to Ralph. b. A $90 hearing test that has an MB of $5 to Ralph. c. A $35,000 knee surgery that has an MB of $3,000 to Ralph. d. A $10,000 baldness treatment that has an MB of $16,000 to Ralph.arrow_forwardMechanics usually have better information about how to fix automobiles than their customers do. What problems does this advantage create? Do mechanics or their customers do anything to limit these problems?arrow_forward1. If the number of people with insurance increases, then what will most likely occur? a. a. a. a. a. The demand for health care will decrease. The demand for health care will increase. The demand for health care will be unaffected. There will be less preventive care. The amount of preventive care will be unaffected. 2.Requiring patients to pay a portion of the cost of the medical care they receive is designed to reduce the severity of a. a. a. a. a. moral hazard. diminishing returns. adverse selection. the principal-agent problem. market failure.arrow_forward
- Question 4 of 6. Which of the following individuals may qualify for a health savings account (HSA)? 0000 Ben and Vivian are covered by Medicare and a supplemental insurance policy. Dominique and Luca have health insurance through the Marketplace. Their deductible is $2,750. Deacon and Annie are covered by a plan through Deacon's work. Their deductible is $4,200. Victor is covered by Medicaid.arrow_forward1. An article in the Economist observes: "Insurance companies often suspect the only people who buy insurance are the ones most likely to collect." What do economists call the problem that is described in the article? If insurance companies are correct in their suspicion, what are the consequences for the market for insurance? Use health insurance as an example.arrow_forwardWhat is the relationship between health and health economics?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning