EBK HEALTH ECONOMICS AND POLICY
7th Edition
ISBN: 9781337668279
Author: Henderson
Publisher: YUZU
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Chapter 1, Problem 2QAP
To determine
The reasons for medical expenses absorbing an increasing share of the National output with emphasis on the extent of the problem of financing medical care.
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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?
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improvement in technology usually result in lower cost of production or new and improved consumer goods and services .Assume that an improvement in medical technolgy result in an increase in life expectancy for people 65 years and older . How would this technolgical advance be likely to affect expenditure on health care?
Chapter 1 Solutions
EBK HEALTH ECONOMICS AND POLICY
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- Discuss and carefully evaluate the health sector reform The Patient Protection and Affordable Care Act by briefly discussing the nature of the health sector reform project. Identify and briefly discuss three lessons learnt from this health sector reform.arrow_forwardThe price elasticity of demand for health care has been estimated to be −0.2. Characterize this demand as price elastic, unit price elastic, or price inelastic. The text argues that the greater the importance of an item in consumer budgets, the greater its elasticity. Health-care costs account for a relatively large share of household budgets. How could the price elasticity of demand for health care be such a small number?arrow_forwardWhat are the three major cost-reducing features of the Singapore health care system? Which one do you think has the largest effect on holding down the price of medical care in Singapore? What element of the Singapore system is shared by the Whole Foods and State of Indiana systems? What elements are missing? How difficult do you think it would be to implement those missing elements in the United States? Explainarrow_forward
- 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.arrow_forwardgive two strategies that will help make Canadian health care systems more inclusive and equitable especially to Indigenous and other populations that are economically and socially marginalized.arrow_forwardThe American College of Physicians has a bold vision for the future: https://www.acponline.org/advocacy/where-we-stand/better-is-possible-acps-vision-for-the-us-health-care-system. Links to an external site. After what you've learned is this possible? The vision seems simple, however many argue this vision may not be easy to implement in our current system.arrow_forward
- Price elasticities of the demand for health care are usually much lower (in absolute terms) at the individual provider level than at the aggregate level. a.True b.Falsearrow_forwardidentify the four basic market structures, describe their role within health economics, describe the advantages and disadvantages of each market structure, and provide a specific health-care-related example of each market structure.arrow_forwardSince the passage of Medicare in 1965, what has happened to overall medical spending for the elderly? Per capita spending? Out-of-pocket spending? How does this compare with healthcare spending by the non-elderly?arrow_forward
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