Economics For Healthcare Managers
4th Edition
ISBN: 9781640550483
Author: Robert H. Lee
Publisher: Health Administration Pr
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Question
Chapter 2, Problem 7E
To determine
Spending on pharmaceuticals in 2010 in 2016 dollar terms.
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Students have asked these similar questions
How can we easily calculate the price index (or inflation rate) of gasoline?
Total spending on health care in a certain region rose from $937 million in 1976 to $946 billion in 2007, Compare this rise in health care spending to the overall rate of inflation as measured by the Consumer Price Index.
A Click the icon to view the Average Annual Consumer Price Index.
%.
(Round to the nearest percent as needed.)
Health care spending increased by
The overall rate of inflation was %.
i Average Annual Consumer Price Index (1982-1984=100
X.
(Round to the nearest percent as needed.)
Year
CPI
Year
CPI
Year
CPI
1976
56.9
1987
1988
113.6
1998
163.0
1977
606
118.3
1999
166.6
65.2
1978
1979
1989
124.0
2000
172.2
72.6
1990
130.7
2001
177.1
136.2
140.3
144.5
2002
2003
2004
179.9
184.0
188.9
195.3
201.6
207.3
215.3
1980
82.4
1991
1981
1982
90.9
1992
96.5
1993
1983
99.6
1994
148.2
2005
152.4
156.9
160.5
1984
103.9
1995
2006
1996
2007
1985
1986
107.6
109.6
1997
2008
Print
Done
What impact does the National Center for Health Statistics have on a country's economy and healthcare system?
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- Question 10 Assume that a "bundle" of health care goods is indexed to $100 in 1950, and a "bundle" of all goods is also indexed to $100 in 1950. Furthermore, assume that the medical care consumer price index (CPI) grows at 6% per year, while the general CPI grows at 4.2% per year. After 1 year, approximately how much does does the bundle of all goods cost? $104 $108 $100 $106arrow_forwardIn an effort to analyze the effect of COVID 19 on health careexpenditure a research team in Healthystate considered 2019 to be the base year in calculating the Laspeyres Index. The following are data from 2018, 2019 and 2020 Quantity 2018 Prices 2018 Quantity 2019 Prices 2019 Quantity 2020 Prices 2020 Oxygen Supply 150 100 170 110 2500 180 Pharmaceutical Products 500 270 750 250 1500 210 Intensive Care 50 2170 50 2200 500 2300 Elective surgeries 150 1870 130 2100 5 3500 Considering the base year as year "0" a- calculate the Laspeyres index between 2018 and 2019 b- Calculate the Laspeyres index between 2019 and 2020 c- John claimed that since 2020 is an important year (since most of it was COVID 19 issues) we need to consider it as the base year. Calculate the Laspeyres index between 2019 and 2020. d- Why would there be a difference between the index in part c and the one in part b?arrow_forwardRuth is a senior citizen who consumes food and health care. When she retired in 2002, she consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was $10 and the price of a medical checkup was $69. However, in 2012, the price of a meal is $11 and the price of a medical checkup is $297. As a result, Ruth consumes 100 meals and 2 medical checkups per month. Calculate a Laspeyres cost-of-living index for Ruth using 100 as the base in 2002. In particular, the Laspeyres index for 2012 is 169.92 (Enter your response rounded to two decimal places.) The Laspeyres index suggests inflation has been 69.92 percent over the 10-year period from 2002 to 2012. (Enter your response rounded to two decimal places.) Next, calculate a Paasche cost-of-living index for Ruth using 100 as the base in 2002. In particular, the Paasche index for 2012 is (Enter your response rounded to two decimal places.)arrow_forward
- Ruth is a senior citizen who consumes food and health care. When she retired in 2002, she consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was $10 and the price of a medical checkup was $51. However, in 2012, the price of a meal is $11 and the price of a medical checkup is $285. As a result, Ruth consumes 100 meals and 2 medical checkups per month. Calculate a Laspeyres cost-of-living index for Ruth using 100 as the base in 2002. In particular, the Laspeyres index for 2012 is (Enter your response rounded to two decimal places.)arrow_forwardDefine the term "HDI". Explain in more than 150 words and without plagiarism.arrow_forwardAlex contributes 23% of the total cost of her individual health care coverage. She pays $52 bi-weekly towards this contribution. What is the amount Alex's employer contributes for health care coverage for the year?arrow_forward
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