Suppose the president is attempting to decide whether the federal government should spend more on research to find a cure for heart disease.What is the opportunity cost of spending more money to find a cure for heart disease?O A. The total explicit cost of the research to cure heart disease.B. The reduction in funding for research to cure other diseases.C. The monetary value of a human life.D. The cost of the Medicare/Medicaid program.O E. The reduction in future health-related costs of heart disease.

In microeconomic, the chance cost of an action or choice is that the deficiency of serious worth or…

Answered: Suppose the president is attempting to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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8. Agreement and disagreement among economists Suppose that Tim, an economist from a business school in Georgia, and Alyssa, an economist from a public television program, are arguing over health insurance. The following dialogue shows an excerpt from their debate: Alyssa: A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. Tim: I think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. Alyssa: I disagree. I think government funding of health insurance is useful to ensure basic fairness. The disagreement between these economists is most likely due to Despite their differences, with which proposition are two economists chosen at random most likely to agree? O Immigrants receive more in government benefits than they contribute in taxes. O Rent ceilings reduce the quantity and quality of available housing. O Having a…
The American system of health care is financed by a mix of private and government insurance programs that pay over 80 percent of the health care bills for U.S. citizens. O True O False
Which of these statements is not true? O In 1800, less than 10% of the US population lived in urban area OGDP per capita tends to be higher in cities than in urban areas O A good transportation system is a condition for cities to exit A principal city is the largest municipality in a metropolitan area
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QUESTION 12 Under realistic conditions, optimal social insurance systems should: O a. not insure individuals against adverse events. O b. partially, but not completely, insure individuals against adverse events. O c. completely insure individuals against adverse events. O d. prevent adverse events. QUESTION 13 When no private market for insurance exists, social insurance programs make O a. consumption smoothing Ob. self-insurance Oc. adverse selection Od. moral hazard QUESTION 14 Moral hazard leads to workers with workers' compensation to set the wage: O a. above the marginal value of leisure. Ob.equal to the workers' compensation payment. O c. above their marginal product. O d. equal to the marginal value of leisure. QUESTION 15 In the United States, private insurance exists in each of these product areas EXCEPT: a. auto insurance. b. life insurance. Oc. casualty and property. d. Medicare. possible. QUESTION 16 Adrianne is buying a life insurance policy and the underwriter asks her to…
Question 30 When individuals do not have to pay for health care, then: O the equilibrium quantity of health care decreases o the demand of health care increases O the demand of health care decreases O the equilibrium price of health care decreases • Previous Saving f8 fg fio
True or False: Short-term disability insurance usually requires a short waiting period before it pays benefits. O True O False
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Match each term with the following correct definition . v Money that a business owes for supplies or services received. a. Premium v C ode used to describe the condition or disease being treated, also known as the b. Cо-pay diagnosis. v That which is most important. С. РРО d. Medicaid v Group of health care providers who offer medical care benefit packages. e. ICD-10 v Assignment of standardized numbers to diagnoses and procedures. f. Accounts payable g. Coding h. Priority i. Deductible v Amount that patients who are covered by insurance must pay themselves for health care services. v State-administered program to help pay costs of health care for low-income and disabled individuals. j. Coinsurance v Amount a customer pays an insurance company in exchange for coverage of certain health care expenses. v A cost-sharing provision that stipulates that the insured is to assume a percentage of the costs of covered services. v Amount required to be paid by the insured before benefits become…
Which of the following is true of social welfare? O a. It is a government program through which society takes care of low-income groups. b. It refers to the overall well-being of people in an economy. c. It solely depends on the income earned by people. d. It applies to sociology, not economics. e. It is measured in terms of spending on social welfare programs.
3
With regard to the law of negligence, which of the following is FALSE? Select one:, O a. If the court finds that the plaintiff was 40 percent and the defendant 60 percent responsible for the loss suffered by the plaintiff, the plaintiff cannot recover the 40 percent from the defendant. O b. Some occupiers' liability acts set the standard of care owed by the occupier-namely, to take reasonable care that any person is reasonably safe. Oc To win his action in negligence. a plaintiff must prove, among other things, that the defendant owed the plaintiff a duty of care. Oayou hurt someone and are suec for negligonde, a possible defence is that you didn't intend

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