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1) What are the elements of the managed competition model? What do you see as the advantages and disadvantages of the managed competition model?

1) What are the elements of the managed competition model? What do you see as the advantages and disadvantages of the managed competition model?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1) What are the elements of the managed competition model? What do you see as the advantages and disadvantages of the managed competition model? 2) In China, the share of national health expenditure paid through out-of-pocket payment increased from about 20 percent in 1980 to about 60 percent in 2000 (see fig. 11.7). During the same period, real GDP per capita (in 2000 US dollars) increased from US$186 to US$949 (see World Bank Group 2007). Explain why the share of out-of- pocket payment increases as national income rises. Does this relationship imply that health insurance is an inferior good? Is it valid to generalize from the experience of China to predict the effect of economic growth in the share of outof-pocket payments in other countries, such as India?
Transcribed Image Text:1) What are the elements of the managed competition model? What do you see as the advantages and disadvantages of the managed competition model? 2) In China, the share of national health expenditure paid through out-of-pocket payment increased from about 20 percent in 1980 to about 60 percent in 2000 (see fig. 11.7). During the same period, real GDP per capita (in 2000 US dollars) increased from US$186 to US$949 (see World Bank Group 2007). Explain why the share of out-of- pocket payment increases as national income rises. Does this relationship imply that health insurance is an inferior good? Is it valid to generalize from the experience of China to predict the effect of economic growth in the share of outof-pocket payments in other countries, such as India?
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