Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Question
Chapter 7, Problem 7.3.8PA
To determine
Social insurance and its relation to health insurance policy.
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Briefly discuss why Medicaid payments to providers are lower than those paid through private insurers.
A noted insurance authority has said, “Because the financing of long-term care is inconsistent with insurance principles, it is a problem that does not lend itself to solution through insurance.” In what ways is the financing of long-term care inconsistent with insurance principles? What, in your opinion, is the solution to the problem of financing long-term care?
Briefly discuss at least one of the outcomes of the 2008 Oregon Experiement? Briefly discuss why Medicaid payments to providers are lower than those paid through private insurers.
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
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- The following question asks about what happens to employment (Q), wages (W), and total compensation (T) when firms begin offering health insurance benefits. Without health insurance benefits, the labor supply curve in terms of wages is given by W 6 + Q, and the labor demand curve in terms of wages is W = 10 - Qp. Q here is hours of work. W is wages in dollars per hour. Assume that workers value the health benefits at $5 per hour. Assume the benefits cost the firm $4 per hour to provide. 1. When firms begin offering health insurance benefits, which of the following is true about the new demand curve? In this exercise, demand curve is still defined as function of wages (rather than as a function of total compensation). The demand curve will shift up by $4 The demand curve will shift down by $4 O The demand curve will shift up by $5 O The demand curve will shift down by $5arrow_forwardDraw a graph and an argument about how increases in health due to one medical innovation can lead to improvements in health that are not directly affected by that innovation. Does it matter the demographic properties of those individuals whose health is improved by the initial innovation?arrow_forwardWhy would increased spending as a percentage of GDP on, say, household appliances or education in a particular economy be regarded as economically desirable? Why, then, is there so much concern about rising expenditures as a percentage of GDP on health care?arrow_forward
- Who does general health insurance cover in terms of persons? Who can be excluded? How is the obligation to pay universal health insurance premium regulated?arrow_forward2. Senator Lee, making the case for universal, free health care, argues that we don't need to worry that health care costs might go up under such a universal and free system, because people are not price sensitive when it comes to their health. She argues that when people need to go to the doctor, they go, regardless of the cost. Evaluate her argument in light of the empirical evidence on the price sensitivity of health care demand. According to research discussed in the chapter, to what degree do you think health care spending might change under a universal, free health care system?arrow_forward"Is Universal Health Insurance Possible in the United States?"arrow_forward
- Create a table to compare and contrast components of public health insurance (such as Medicare and Medicaid) and private health insurance.arrow_forwardWhich theory explains the effect of health on income? Direct income theory Efficient producer theory Productive time theory Allostatic load theoryarrow_forwardAccording to Henderson, what are the three alternatives strategies (U.S. Policy Alternatives) routinely complete for acceptance in planning the way health care should be delivered and financed in the United States? Please briefly discuss each of these policy alternatives.arrow_forward
- Briefly discuss the concept of universal access as applied to health care.arrow_forwardUse the following graph to answer the next three questions. Health of Population A Point A Point D Point B Which point on the graph best represents a country that has a very large health care infrastructure and where an increased quantity of health care would initially deliver almost no marginal benefit? Point E B Point C D Quantity of Medical Care Healtharrow_forward
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