Health Economics
14th Edition
ISBN: 9781137029966
Author: Jay Bhattacharya
Publisher: SPRINGER NATURE CUSTOMER SERVICE
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Chapter 3, Problem 15AP
To determine
The impact of aging on PPF (
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A recent trend in health insurance is the Health Savings Account (HSA). The idea behind Health Savings Accounts is that rather than providing employees with health insurance that makes visiting doctors cost little more than a simple $10 or $20 copay the employer gives the employee money to use to spend on health care, but the employee bares the entire cost of seeing the doctor. What money given for health care not spent by the employee can be withdrawn by the employee as if it was additional income.
It is believed that Health Savings Accounts will reduce the total amount of money spent on seeing doctors. Using Supply and Demand analysis, explain why there is the expectation that HSA’s will reduce spending on doctors.
what is the relationship of macroeconomics to health economics? give the importance of its relationship.
Why do people confuse correlation with causation
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- Suppose that John Smith gets promoted to a job that causes two changes to occur simultaneously: John earns a higher wage, and a safer environment causes his health to depreciate less rapidly. How would these two changes together affect John’s desired health capital?arrow_forwardThe Grossman model states that health is a capital good that can be carried over from one period to the next. With this in mind, which of the following is most likely true about how the individual will value health in a lifecycle context compared to a one-period model? Individuals tend to value health less in the life cycle context compared to the one period model Individuals tend to value health more in the life cycle context compared to the one period model. not change the emphasis they put on health.arrow_forwardShow how a consumer would choose between medical care and health(y) behavior activities using the graphical representation of the consumer choice model (assume that “amounts” of healthy behavior have “costs” or prices).arrow_forward
- The Grossman model emphasizes the important roles that education, health knowledge, and expectations about future income and health play in the choices that determine health in both the short and long runs. Education both increases the likelihood of having higher income, which is good for health, and can compensate for lower income in which of the following ways: a. Education is associated with better health literacy, knowledge and execution of healthy diets and lifestyles b. Education enables people to communicate better with well-educated doctors and so they learn better how to manage their own health over time c. Education enables people to read about side effects and avoid unnecessarily risky procedures d. All of the above e. None of the abovearrow_forwardIn what sense is the individual considered a “producer” of health in the Grossman model?arrow_forwardHEALTH ECONOMICS QUESTION: IN THE GRAPH BELOW, HOW WOULD THE EQUILIBRIUM CHANGE IF THE CONSUMER BECAME WEALTHY, PLEASE INSERT WHERE THIS CURVE WOULD BE IN THE GRAPH.arrow_forward
- The graph above shows an Engel curve for health (H) in (a) and an Engel curve for medical care (m) in (b). Which one of the following describes the possible impact of income growth on Health in from the "fast lane" effect? O O As income nises there will be higher utilization of medical care and lower stock of health As income falls there will be higher utilization of medical care and lower stock of health As income rises there will be lower utilization of medical care and lower stock of health As income rises there will be lower utilization of medical care and higher stock of healtharrow_forwardThe following is an excerpt from "The Labor Market Effects of Rising Health Insurance Premiums," by Katherine Baicker, Amitabh Chandra. If workers in a certain sector of the economy or those who are married are systematically more likely to have different levels of unobservable characteristics that affect health insurance premiums, then such a correlation is possible. This problem is identical to the standard endogeneity problem in program evaluation, where receipt of the treatment is correlated with unobservable characteristics of the person receiving treatment. A solution to this problem is to instrument for imputed premiums using variables that are uncorrelated with εi and mi but are correlated with imputed health insurance premiums. In our analysis we use state‐level, per‐capita medical malpractice payments as an instrument for imputed premiums. In other words, in order for malpractice payments to be a valid instrument for health insurance premiums, it must be the case that…arrow_forwardDistinguish between correlation and causation.arrow_forward
- There are many ways to define and measure the benefits and costs that go into the GPI. How do you think a person with a biocentric worldview would measure these differently from a person with an anthropocentric worldview? Whose GPI for the year 2005 would likely be higher?arrow_forwardDescribe Grossman's Improvement Model of Health. How does Grossman reconcile health as both something in demand and something produced by individuals?arrow_forwardPlease provide an example showing the use of Econometrics for a specific economic concern.arrow_forward
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