According to the late health care economist Uwe Reinhardt, "The Affordable Care Act is an ugly patch on an ugly system." Do you agree and why?
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- Use 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 HealthWhat are the differences and similarities between health economics and other forms of economic study?The major reason the United States does not have a national health care program is because its citizens want different results from health care programs than citizens of other developed societies. T or F?
- Why 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?Economics Explain how an “individual mandate," where every resident of a country is required by law to purchase health insurance might affect the cost of healthcare. Which specific source of market failure is addressed by such a mandate? Explain your answer.What is the opportunitiy cost of having health insurance? What is the opportunity cost of not having health insurance?
- 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 …………………According to the Organisation for Economic Co-operation and Development (OECD) the United States has a ranking in the bottom half of the OECD countries. Why is the ranking of the United States lower than half of the OECD countries, yet the United States spends more on healthcare than all other countries? Be sure to justify your response with data and not just your opinion.How does the pricing of "free" health care in Canada affect the quantity consumed?