Microeconomics
Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Chapter 24, Problem 2RQ
To determine

The group of people who are less likely to purchase insurance

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Suppose that the price elasticity for hip replacement surgeries is 0.2. Further suppose that hip replacement surgeries are originally not covered by health insurance and that at a price of $50,000 each, 10,000 such surgeries are demanded each year. LO24.2   a. Suppose that health insurance begins to cover hip replacement surgeries and that everyone interested in getting a hip replacement has health insurance. If insurance covers 50 percent of the cost of the surgery, by what percentage would you expect the quantity demanded of hip replacements to increase? What if insurance covered 90 percent of the price? If insurance covers 50 percent of the bill, just assume that the price paid by consumers falls 50 percent.) b. Suppose that with insurance companies covering 90 percent of the price, the increase in demand leads to a jump in the price per hip surgery from $50,000 to $100,000. How much will each insured patient now pay for a hip replacement surgery? Compared to the original situation,…
In 2017, health care spending in the US accounted for approximately of the GDP. O 5% 17% 25% 38% 45% QUESTION 2 Without any change to the health insurance system, by 2082, health care spending in the US is expected to reach 5% 18% 25% 49% QUESTION 3 The main reason why health care spending is increasing over time is O Increasing administrative costs Increasing uncompensated care O population aging increase in sophistication and quality of medical services the Affordable Care Act QUESTION 4 Regarding health insurance, the number of uninsured individuals in the US is approximately 8 million 18 million. 28 million 48 million 98 million of the GDP.
1. Fill in the blanks. I. CBR is 17 per 1000, Births are 470,900. Find the mid-year population. II. ASDR is 15 per 1000, the midyear population is 5,000,000, the number of deaths would be? III. Lo= 99646, l1= 90,000 , then do would be IV. NRR= 3.3, S.R=103, find TFR V. If young dependency ratio is 39.5 and old year dependency ratio is 9.7 then total dependency ratio would be VI. The neonatal mortality rate is 3.5 and post neonatal is 2.0 per 1000, then the IMR would be? VII. Dependency Ratio for Italy is 51.8%, the population under 15 is 8,405,501 and above 65 is 12,016,006. The independent population (P15-65) would be VIII. Female life expectancy is generally male life expectancy IX. The rate of natural increase in human population is calculated by a. CDR + CBR b. CDR – CBR c. CBR - CDR Х. GDP of Pakistan for 2020-21 was
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