As one of the largest and fastest-growing industries in 2018, health care provided how many jobs for wage and salary workers? O 18 million 30 million 3 pts O 24 million O 12 million
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As one of the largest and fastest-growing industries in 2018, health care provided how many jobs for wage and salary workers? O 18 million 30 million 3 pts O 24 million O 12 million
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- In 2017, health care spending in the US accounted for approximately of the GDP. O 5% 17% 25% 38% 45% QUESTION 2 Without any change to the health insurance system, by 2082, health care spending in the US is expected to reach 5% 18% 25% 49% QUESTION 3 The main reason why health care spending is increasing over time is O Increasing administrative costs Increasing uncompensated care O population aging increase in sophistication and quality of medical services the Affordable Care Act QUESTION 4 Regarding health insurance, the number of uninsured individuals in the US is approximately 8 million 18 million. 28 million 48 million 98 million of the GDP.Health care expenditures coming directly out of consumers' pockets, primarily in the form of deductibles and copayments, account for what care spending? O 18 percent 35 percent 44 percent O 21 percentPROBLEMS 1. Workers are compensated by firms with “benefits” in addition to wages and salaries. The most prominent benefit offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $20 per hour and in addition received health benefits at the rate of $4 per hour. Also suppose that by 2010 workers at that plant were paid $21 per hour but received $9 in health insurance benefits. LO17.1 By what percentage did total compensation (wages plus benefits) change at this plant from 2000 to 2010? What was the approximate average annual percentage change in total compensation? By what percentage did wages change at this plant from 2000 to 2010? What was the approximate average annual percentage change in wages? If workers value a dollar of health benefits as much as they value a dollar of wages, by what total percentage will they feel that their incomes have risen over this time period? What if they only consider wages when calculating their incomes?…
- Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…LIVING IN SPAINJackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private…
- Suppose you are a politician being criticized in a debate for your commitment to reducing the growth of medical spending. Which of the following is the most appropriate response? O a. There is empirical evidence that medical spending should be capped at 15 percent of GDP. O b. Reducing wasteful health care spending could provide additional funding to the education sector. O c. High health care spending is harmful to bur economic well-being. O d. Fixing treatment prices will lead to greater innovation. Oe. Other developed nations spend far less of their GDP on health care.%24 A household with income that is two-thirds of the poverty threshold has ratio of income to poverty of O 0.67. O 1.50. O 3.20. O0.23. Unit 7- Chapter 1..xlsx 0Unit 7- Chapter 1..xlsx Topic 2 (2).docx Topic 2 (1).docx 11:07 PM 73 F ENG 自 ins prt sc delete f12 pue LL3 114 SI unu backspace -> bock 7. 5. 55 enter () H. pause * shift ctrl/Suppose that an individual's demand curve for doc-tor visits per year is given by the equation P = 100- 25Q, where Q is the number of doctor visits peryear and P is the price per visit. Suppose also thatthe marginal cost of each doctor visit is $50.a. How many visits per year would be efficient?What is the total cost of the efficient numberof visits?b. Suppose that the individual obtains insur-ance. There is no deductible, and the coin-surance rate is 50 percent. How many visitsto the doctor will occur now? What are theindividual's out-of-pocket costs? How muchdoes the insurance company pay for this individual's doctors' visits?c. What is the deadweight loss (if any) causedby this insurance policy?
- The government announces programs designed to reduce the share of income going to the top quintile from 60% to 20%. You predict that the most likely result is that: O mean household income will fall, because the highest income earners will earn less and work less. median household income will rise, because some of the 40% of redistributed income will be transferred to the third quintile. after redistribution, each quintile will receive 20% of total wealth. O the lowest quintile will receive the 40% taken from the top quintile and switch places.10 9 8 7 O) 6 LO 5 4 3 2 1 2 3 4 5 6 7 8 9 10 • Label axis variables • Label curves Highlight the market envelope • Draw the wage-safety locus • Add indifference curves for a different worker. Are they more or less risk-averse?A dozen eggs cost $1.22 in January 1990 and $2.33 in January 2016. The average wage for workers in private industries was $10.02 per hour in January 1990 and $21.33 in January 2016. By what percentage did the price of a dozen eggs rise? 48% 91% 111% By what percentage did the wage rise? O 21% 94% 113% In order to earn enough to buy a dozen eggs, a worker had to work. Workers' purchasing power in terms of eggs minutes in January 1990 and between 1990 and 2016. minutes in January 2016.
