Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 7, Problem 7.1.5PA
To determine
Improving health and PPF .
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The graph below shows the market for medical services in a country. Initially, there is no government health care system and the price per unit is 200 TL. Then the government decides to provide health care program in which the citizens pay only 40 TL for any medical acre they take.
Total health expenditures without any government health care program is ……………
The amount of medical services per year when government provides health care is …………..
Total health expenditures with government health care program is ………………
Government’s total health care expenditure is ……………….
Citizens’ total health care expenditure after government health care program is ……….
The amount of deadweight loss due to government health care program is …………………
The UN Committee on Economic, Social, and Cultural Rights (CESCR) is charged with interpreting the International Covenant on Economic, Social, and Cultural Rights (ICESR). In 2000 the Committee released General Comment 14, “The Right to the Highest Attainable Standard of Health”. The General Comment is important for advancing our understanding of a right to health under international law because it: (choose one)
A) Sets out what has become known as the “3AQ model” addressing the conditions for health on the basis of Availability, Accessibility, Acceptability, and Quality.
B) Creates new, specific obligations with respect to the delivery health care services that are binding on all countries of the world
C) Makes it clear that the absence of a right to health in the Canadian Charter or Rights and Freedoms means that Canada is in clear violation of its obligations under the ICESR.
D) Offers an account of a right to health that has been used by health advocates around the world
E) A, B…
Which of the following techniques is used by economists to value years of life saved by a highway
safety program?
Either measuring the increased income that it allows or trying to get those affected by the improved safety to
reveal their willingness to pay for the reduced risk of death
Trying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk of
death
none of the other answers is correct, because economists believe that it is impossible to put a value on life
Measuring the increased income that it allows
Chapter 7 Solutions
Economics (7th Edition) (What's New in Economics)
Ch. 7 - Prob. 7.1.1RQCh. 7 - Prob. 7.1.2RQCh. 7 - Prob. 7.1.3RQCh. 7 - Prob. 7.1.4PACh. 7 - Prob. 7.1.5PACh. 7 - Prob. 7.1.6PACh. 7 - Prob. 7.2.1RQCh. 7 - Prob. 7.2.2RQCh. 7 - Prob. 7.2.3RQCh. 7 - Prob. 7.2.4RQ
Ch. 7 - Prob. 7.2.5PACh. 7 - Prob. 7.2.6PACh. 7 - Prob. 7.2.7PACh. 7 - Prob. 7.2.8PACh. 7 - Prob. 7.2.9PACh. 7 - Prob. 7.3.1RQCh. 7 - Prob. 7.3.2RQCh. 7 - Prob. 7.3.3RQCh. 7 - Prob. 7.3.4RQCh. 7 - Prob. 7.3.5PACh. 7 - Prob. 7.3.6PACh. 7 - Prob. 7.3.7PACh. 7 - Prob. 7.3.8PACh. 7 - Prob. 7.3.9PACh. 7 - Prob. 7.3.10PACh. 7 - Prob. 7.3.11PACh. 7 - Prob. 7.3.12PACh. 7 - Prob. 7.3.13PACh. 7 - Prob. 7.3.14PACh. 7 - Prob. 7.3.15PACh. 7 - Prob. 7.4.1RQCh. 7 - Prob. 7.4.2RQCh. 7 - Prob. 7.4.3RQCh. 7 - Prob. 7.4.4RQCh. 7 - Prob. 7.4.5RQCh. 7 - Prob. 7.4.6PACh. 7 - Prob. 7.4.7PACh. 7 - Prob. 7.4.8PACh. 7 - Prob. 7.4.9PACh. 7 - Prob. 7.4.10PACh. 7 - Prob. 7.4.11PACh. 7 - Prob. 7.4.12PACh. 7 - Prob. 7.4.13PACh. 7 - Prob. 7.4.14PACh. 7 - Prob. 7.1CTE
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Why economics is essential in addressing the health-related problem?arrow_forwardRonald Coase in his classic October 1960 article “The Problem of Social Cost” (Journal of Law and Economics 3[1], pp.1-4) discussed collective ownership of resources. Collective ownership often means that no one takes care of resources, or at minimum that resources are not cared for as well as if they were privately owned. What are some of problems with collective ownership in the health care industry? Can you think of some examples in which collective ownership works? In what situations does it not work?arrow_forwardSuppose that Elaine’s demand for doctor visits per year is given by the equation: P = 250 – 20Q, where Q is the number of doctor visits and P is the price. The marginal cost of providing this service is fixed at $130 per patient. What is the efficient level of visits per year? What would be the total cost to provide the efficient level of visits? On a supply/demand graph, illustrate this situation; label the efficient levels from part (a). If Elaine obtains insurance with no deductible and a copayment of $10 per visit, how many times would she visit the doctor per year? In total, how much does Elaine pay out of pocket for her visits and how much does the insurer have to pay? Calculate the deadweight loss resulting from the insurance policy and show this region on your graph. What happens to the size of the deadweight loss as the copayment increases? Briefly explain why the insurance policy can induce moral hazard.arrow_forward
- What are the major competitive strategies proposed by economists? How, for example, would elimination of the tax subsidy for employer-provided health insurance reduce spending on health care?arrow_forwardThe World Health Organization says that it is too costly to try to fully eradicate malaria. By using nets, medicine, and DDT it is possible to eliminate 90 percent of malaria cases. But to eliminate 100 percent of cases would be extremely costly. Describe how the opportunity cost of controlling malaria changes as more resources are used to reduce the number of malaria cases.arrow_forwardJournalist: To reconcile the need for profits sufficient to support new drug with the moral imperative to provide medicines to those who most need them but can not afford them, some pharmaceutical companies feel justified in selling a drug in rich nations at one price and in poor nations at a much lower price. But this practice is unjustified. A nation with a low average income may still have a substantial middle class better able to pay for new drugs than are many of the poorer citizens of an overall wealthier nation. Which one of the following principles, if valid, help to support the journalist's reasoning? a. People who are ill deserve more consideration than do healthy people, regardless of their relative socioeconomic positions. b. Whether one deserves special consideration depends on one's needs rather than on the characteristics of the society to which one belongs. c. Wealthier institutions have an obligation to expend at least some of their resources to assist those incapable…arrow_forward
- Nobel Prize winner and New York Times columnist Paul Krugman noted that economics is a lot like medicine: Knowledge is limited and many cures are quite painful. What are some other ways that economics and medicine are alike?arrow_forwardInformation is an integral part of many public health programs that can be considered as public good. However, individuals can benefit from it if they have access to receive that information. Does the Philippines show efficiency in information dissemination? How about in its vaccination campaign?arrow_forwardIn the diagram, the MB1 curve shifts rightward to the MB2 curve when Multiple Choice new technology makes pollution abatement less expensive. society decides that it wants cleaner air and water because of new information about the adverse health effects of pollution. new technology makes pollution abatement more expensive. society decides that they are no longer concerned about any adverse health effects of pollution.arrow_forward
- The graph below shows the market for medical services in a country. Initially, there is no government health care system and the price per unit is 200 TL. Then the government decides to provide health care program in which the citizens pay only 40 TL for any medical acre they take. Government’s total health care expenditure is ………………. Citizens’ total health care expenditure after government health care program is ………. The amount of deadweight loss due to government health care program is …………………arrow_forwardAs most countries are dealing with the second wave of coronavirus,policy makers are faced with a trade-off between maximizing social distancing measures to suppress the disease & the need to maintain some sense of normal economic activity.Some pundits claim this to be a classic example of equity-efficiency trade-off in economic policies.As an expert in Economic Analysis & policy what do you think?arrow_forwardDraw a market demand curve and market supply curve for automobiles and label these curves D₁ and S₁, respectively. On the same graph, show what would happen if the auto workers union required all manufacturers of automobiles to now provide health insurance for ALL workers and their dependents. (Note: Assume that prior to this change, manufacturers of automobiles do NOT provide health insurance coverage to 100 percent of their employees and/or their dependents.) Think about whether you think this change would affect the demand curve or the supply curve for automobiles, and then consider in which direction you think the curve should shift. Draw a new curve and use a subscript 2 to identify it as the new demand (D₂) or supply (S2), whichever is appropriate. Be sure to label: • Both axes The original equilibrium price and quantity before the change The new equilibrium price and quantity after the changearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
