Consider the country Unsanitaria. The country had poor sanitation systems so the people fell sick often, missed work and lost income. Low income was also the reason why they could not afford sanitation. The effect of health (H) on income (Y) is given by Y-2.5H The effect of income (Y) on health (H) is given by H = 0.2Y+2 Subsequently, the government of Unsanitaria improved the sanitation system in the country so the health indicators became better even for low income people. The effect of income (Y) on health (H) after sanitation improvements became: H = 0.2Y+12 What is the income in this country after sanitation improvements? 10 ○ 30 ○ 60 O 24

Consider the country Unsanitaria. The country had poor sanitation systems so the people fell sick often, missed work and lost income. Low income was also the reason why they could not afford sanitation. The effect of health (H) on income (Y) is given by Y-2.5H The effect of income (Y) on health (H) is given by H = 0.2Y+2 Subsequently, the government of Unsanitaria improved the sanitation system in the country so the health indicators became better even for low income people. The effect of income (Y) on health (H) after sanitation improvements became: H = 0.2Y+12 What is the income in this country after sanitation improvements? 10 ○ 30 ○ 60 O 24

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

The Dartmouth Atlas research project finds that health care spending varied widely between different American cities in the early 2000s, and that Medicare enrollees in high-spending cities were a lot healthier as a result. True False
In the context of regulating new drugs, a type I error occurs when and a type II error occurs when A bad drug gets rejected and does not go on the market; a good drug gets approved for sale A good drug gets rejected and does not go on the market; a bad drug gets approved for sale A good drug gets approved for sale; a bad drug gets rejected and does not go on the market A bad drug gets approved for sale; a good drug gets rejected and does not go on the market
The government would like to introduce a subsidy to help citizens who need their car for work and cannot afford to buy a ULEZ-compliant car. It also wants to ensure that only citizens who need to drive their car regularly use the subsidy. Instead of the two groups of citizens discussed above, we focus on one particular citizen who does not drive very often, only once a year. As a result, this citizen does not emit excessive pollution even with a car that is not ULEZ-compliant. The government would therefore prefer citizens like her not to buy a new car to avoid having to pay the subsidy unnecessarily. Once a year, the citizen derives a benefit of driving through the ULEZ area of B = 20. She can choose to either buy a new ULEZ-compliant car at a cost of C = 10, 000, denoted x = new, or stick with her old car at no cost, denoted x = old. 5 If she sticks with her old car, she has to pay a ULEZ fee of τ = 12.50 on the day that she drives. Her net benefit of driving on that day is…
Based on the data presented in the table below estimate elasticity of demand for two price changes: a) price increase from $3 to $9 per hour; and b) price decrease from $9 to $3 per hour. Make sure to use the single point elasticity equation formula. Price Per Hour of Therapy Demand for Therapy 0 16 1 15 2 14 3 13 4 12 10 5 11 6 10 7 9 8 8 9 7 10 6 11 5 12 4 13 3 14 2 15 1 16 0
The government would like to introduce a subsidy to help citizens who need their car for work and cannot afford to buy a ULEZ-compliant car. It also wants to ensure that only citizens who need to drive their car regularly use the subsidy. Instead of the two groups of citizens discussed above, we focus on one particular citizen who does not drive very often, only once a year. As a result, this citizen does not emit excessive pollution even with a car that is not ULEZ-compliant. The government would therefore prefer citizens like her not to buy a new car to avoid having to pay the subsidy unnecessarily. Once a year, the citizen derives a benefit of driving through the ULEZ area of B = 20. She can choose to either buy a new ULEZ-compliant car at a cost of C = 10, 000, denoted x = new, or stick with her old car at no cost, denoted x = old.If she sticks with her old car, she has to pay a ULEZ fee of τ = 12.50 on the day that she drives. Her net benefit of driving on that day is therefore…
What proportion on the GDP is spent on health care? 0.2 0.75 0.18 0.30 QUESTION 2 Which of the following options is incorrect about US health care? Health care spending as a share of GDP has been steady from 2008 to 2012 The projected health care spending as a share of GDP in 2020 is lower than the current share. Increase in life expectancy is one of the reasons of increase in health care costs US is categorized as a country with high health care costs QUESTION 3 For every 10 percent increase in price of health care services, demand falls by 3 percent. How much is the own price elasticity of demand for health care? 0.3 3.33 -3.33 -0.3 QUESTION 4 What is a Cadillac plan? Health insurance plan for Cadillac company (car manufacturer) A very generous employer-sponsored health insurance plan There is no such plan A very generous health plan for Cadillac owners QUESTION 5 Demand for health care is not Downward sloping Sensitive to the price of health care Vertical Horizontal…
The proportion of an insurance company’s premium income spent on provision of treatments is called the formulary. capitation per member per month. point of service. medical loss ratio. total premium.
It is difficult to argue against the scientific merit of medical discoveries such as treatments for cancer or AIDS. Is scientific merit alone sufficient to determine the rational allocation of medical funds in such high-cost cases? What other kinds of information are relevant?
Indicate whether the statement is true or false, and justify your answer.Nearly half of expenditures on health care in the US are government financed.
In the Grossman model, the marginal efficiency of investment in health care declines as health improves. True False
Answer the following questions in your own words. Start a new thread while replying. 1. What are the determinants of price elasticity of demand? Explain the determinants. 2. What is the difference between inelastic demand and elastic demand? Provide an example of each from real life. 3. Refer to the graph below: Price 22 20 + 18 +- 16 + 14 B 12 10 + 4 Demand +++ 100 200 300 400 500 600 700 800 900 Buaxtity From the graph above calculate: a. Price elasticity of demand from point A to point B (use the mid-point method). Is it an elastic situation or an inelastic situation? b. Price elasticity of demand from point B to point C (use the mid-point method). Is it an elastic situation or an inelastic situation?
Natural resources do not have to be tested for impairment annually. Select one: True False EXPLAIN YOUR ANSWER