Some firms offer their employees' health care plans with high deductibles, sometimes as much as $4,500 per year. What effect do high-deductible plans have on how often employees visit doctors or otherwise use health care services? If the federal government were to require that employer health care plans have deductibles that were no greater than $200 per year, would the employees in these plans be better off? Would the employers offering these plans be worse off? Briefly explain.
Q: In an economy in which all prices, including wages, are completely flexible, an increase in labor…
A: Labor economics is the study of labor market complexities such as work patterns, compensation…
Q: (a) What is an Efficiency Wage? (b) Why is it Profitable for the Firm to pay an Efficiency Wage…
A: Wage refers to the payment or the monetary compensation that an employer provides to its employee…
Q: Tons of manufactured products per year 700 600 500 300 200 400 600 Tons of Agricultural products per…
A: Opportunity cost refers to the value of the next best alternative forgone when a decision is made to…
Q: If the economy's full-employment output is $5 trillion, actual output is $5 trillion, and the budget…
A: A structural deficit happens when a government's expenditures consistently exceed its revenues, even…
Q: Oreos and orange juice have a negative cross-price elasticity. So, the two goods are O necessities.…
A: The question addresses the relationship between two goods, Oreos and orange juice, concerning their…
Q: The interest rate in the US is 7%. Use the Fisher effect to find the Canadian interest rate.
A: The objective of the question is to find the Canadian interest rate using the Fisher effect and the…
Q: Answer using diagram below, there are 100 identical firms in the industry. mit 2133 15 A market…
A: There are 100 identical firms operating in the market. The market price is given as $5.
Q: Consider a situation where Ron (R) and Nancy (N) have demands for a public good that can be…
A: Define the Market Demand:Since the good is public and non-excludable, individual demands sum up to…
Q: . The determinants of economic growth include all of the following except A) technological…
A: Economic growth refers to the increase in the production and consumption of goods and services in an…
Q: Suppose government expenditures = $1,900, GDP = $8,600, full- employment GDP = $10,000, taxes are a…
A: A government experiences a budget deficit if government expenditure exceeds the government's tax…
Q: Mr. and Mrs. Ward typically vote oppositely in elections and so their votes “cancel each other out.”…
A: The payoff matrix for the given game is Mrs. WardVote Don't VoteMr. WardVote -3,-33,-6Don't Vote…
Q: If the MPS is 0.2, then the tax multiplier is O O A) -4. B) -1.2. OC) -8.
A: The multiple by which national income increases or decreases when there is a decrease or increase in…
Q: Consider a lottery L which gives wealth with probability p and wealth y with probability 1 - p.…
A: The Bernoulli Utility Function is a mathematical model used in economics to represent individual…
Q: each. You are choosing between a UofT hoodie and a Roots hoodie. They both cost $45 Suppose the…
A: Opportunity cost is the cost of giving up the value of the next best choice when choosing to commit…
Q: n a country, the marginal propensity to consume is 0.4. Investment demand is represented by I(r ) =…
A: In this step, we use the IS (Investment-Savings) equation to find the change in aggregate demand…
Q: True or false? Inflation, on average, makes people neither richer nor poorer. Therefore it has no…
A: This question asked us to determine the accuracy of the statement about inflation not impacting…
Q: Figure 1 illustrates the market conditions facing SKF and Timken, initially operating as competitors…
A: Perfect competition is the kind of market where competition is unbiased. There are multiple firms,…
Q: 19. The Federal Reserve System was established in 1913 in response to the A) First World War.…
A: The correct answer is-B) bank panic of 1907.The Federal Reserve System, often referred to as the…
Q: In Thanosland, the production function is Cobb - Douglas. Suppose that between two periods (2016 and…
A: A common mathematical tool in economics to simulate the connection between output and inputs in a…
Q: Which of the following market prices would cause the firm's profit-maximizing output level to be…
A: A perfectly competitive market is a market with lots of buyers and sellers all selling the same…
Q: 3. Demeter has 100 acres of land on which she can plant wheat or rice. The following table shows the…
A: The producer has 100 acres of land. The income for each type of good is given as…
Q: The population growth rate increases by 10%. What would be the impact on the country's production…
A: The objective of the question is to understand the impact of an increase in population growth rate…
Q: Brinley says that "gas prices are rising because there aren't enough oil refineries." argues that…
A: Demand is the desire of an individual ability and willingness to pay for a product. The demand is…
Q: Danny "Dollar" dela Cruz is a neighborhood's 9-year-old entrepreneur. His most recent venture is…
A: a.The elasticity of demand is the degree of responsiveness from the part of the consumer towards the…
Q: Suppose government expenditures = $1,900, GDP = $8,600, full- employment GDP = $10,000, taxes are a…
A: Government expenditures = $1,900, GDP = $8,600, full-employment GDP = $10,000, taxes are a flat 15…
Q: 1. In a simple monetary model of the exchange rate, liquidity preference is a constant, L=5 for both…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Refer to the above graph. The long-run relationship between the rate of inflation and the…
A: The long-run relationship between unemployment and inflation is often described by the Phillips…
Q: In a simple monetary model of the exchange rate, liquidity preference is a constant, L=5 for both…
A: ***Since the student has posted multiple questions, the expert is required to solve only the first…
Q: QUESTION 25 The main ethical argument to support the idea that U.S business has a duty of loyally to…
A: (e) the principle of fidelity.Explanation: This principle emphasizes the importance of keeping…
Q: Explain how the outcome of the Cournot model is achieved.
A: The Cournot model is an economic model used to analyze competition between firms that produce…
Q: The country of Nemedia does not trade with any other country. Its GDP is $20 billion. Its government…
A: Here we can The equation used to find the value of the goods and services purchased by the…
Q: 1. Write a short case that must cover 3 different risk types and 3 different loss types.
A: Note: As per the guidelines in case of multiple types of questions, only do the first one. If you…
Q: The Philips curve in an economy is given by a = Επ- 0.5 (u - 6). Assume that the economy starts out…
A: Okun's law is a relation between change in unemployment rate and change in output. A negative…
Q: 2. If imports = 500 billion euros, exports = 700 billion euros, purchases of domestic assets by…
A: This can be defined as the total amount of a commodity or service that consumers are willing and the…
Q: Assuming that the Bank of Canada determines that inflation is the most significant problem in the…
A: Inflation refers to the sustained increase in the general price level of goods and services in an…
Q: Quantity of Guns Consider the figures above. In Economy B, the opportunity cost of making O A.…
A: An economic model that graphs a producer's production choices is called a production possibilities…
Q: QUESTION 18 Imagine the following game: The players: Emirates Airlines and Etihad Airlines The…
A: Nash equilibrium is a concept in game theory that describes a situation in which each participant in…
Q: When the Fed buys and sells U.S. government bonds in an effort to regulate the money supply, it is…
A: An investor loans money to a borrower using a bond, a fixed-income instrument. In accordance with…
Q: if the best response of firm 1: p1 = R1(p2) = (a - p2 - k) / 4 and the best response of firm 2: p2 =…
A: Market:It is a placе whеrе thеrе is buying and sеlling of goods and sеrvicеs. Somе buyеrs and…
Q: TB MC Qu. 10-45 (Static) Sara borrowed... Sara borrowed $5,000 on a 120-day 5% note. Sara paid $500…
A: The interest paid at the conclusion of a credit cardholder's payment cycle is determined by credit…
Q: 8. Best responses for individual contributions to a public good Larry and Megan each rent one unit…
A: Public goods:The goods and services which have the unique characteristic of non-excludability…
Q: Table: ABC and XYZ | QMC of ABC Co. MC of XYZ, Inc. 0 1 $5 2 10 -- 3 20 4 25 5 30 6 35 7 40 8 45 --…
A: The table shows the marginal cost (MC) of producing each unit of output for two companies, ABC and…
Q: The exchange rate is 0.8 USD per CAD and is expected to decrease to 0.78. The expected US rate of…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Economic mobility refers to __________________. A company's ability to pay its bills from cash or…
A: Mobility means ability of an individual to move freely from one place to another. When the term…
Q: O $2.50 O $1.50 O $1.25 $0.50
A: Total revenue = Price * QuantityTotal cost = Average cost * QuantityProfit = Total revenue - Total…
Q: Suppose now the two firms decide to merge as one so that they want to maximize the joint profit πm =…
A: The joint profit function (πm)can be expressed as the sum of the individual profits for each…
Q: Suppose that a small country currently has $4 million of currency in circulation, $6 million of…
A: The supply of money is defined as the amount of money in the economy in total. It includes the…
Q: Compute the utility of group 1 from driving when group 2 takes public transport: U₁(x₁=d, x₂ = p).…
A: Utility is the satisfaction or benefit that a consumer derives from consuming a good or service. It…
Q: Which expression best describes the ordinary least squares estimate for B₁? (a) b₁ = -11.111 (b) b₁…
A: We have been given the following data,ixiyi11-2.523-0.75351.347-1.55591.25Here x is the independent…
Q: An oil refinery finds that it is necessary to treat the waste liquids from a new process before…
A: The measure that depicts uniform costs of estimated receipts and expenditure of the project life…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- 1. Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging. (All the graphs you draw should include labels, down and right arrows to indicate the changes before and after the new drug were discovered) a. What's the effect on the available time for work Tw and play Tz? Draw its labor–leisure graph including both budget constraints and indifference curve. b. What's the effect on optimal health H* ? Draw its marginal efficiency of capital (MEC) curve. c. Draw the production possibilities frontier. Explain it.What are some of the metrics economists use to measure health outcomes?Why is it difficult to measure health outcomes?
- 6 Explain why does the government act as a producer of health insurance for certain population group?9a Briefly explain what the present value of a health care and preventionWhat impact does AI have in healthcare and how does it play a factor in the economy? Please provide the explanation in detail and source of information.
- What do you understand by the term "Health Insurance"?2. Describe the different types of Health Insurance3. Discuss factors that would make any two mentioned types of health insurance successful.1. Utility and Consumer Surplus A. Use the figure below to fill in the total utility and marginal utility of medical care in the table. In this example, is the marginal utility of health care increasing or decreasing? What are some reasons why this might be the case (briefly explain; approximate 3 sentences)? Health (H) Utility 16 15 13 10 3 4 Medical care (q) 1 2 Units of Medical Care 0 1 Total Utility Marginal Utility 2 3 4 Briefly explain: Conceptually, does the marginal utility scheduled above reflect your own demand for going to the dentist to get a check-up?Jay Bhattacharya and M. Kate Bundorf of Stanford University have found evidence that people who are obese and work for firms that have employer-provided health insurance receive lower wages than people working at those firms who are not obese. At firms that do not provide health insurance, obese workers do not receive lower wages than workers who are not obese. Source: Jay Bhattacharya and M. Kate Bundorf, "The Incidence of the Health Care Costs of Obesity," Journal of Health Economics, Vol. 28, No. 3, May 2009, pp. 649-58. Firms that provide workers with health insurance may pay a lower wage to obese workers than to workers who are not obese because the former tend to be less healthy and consequently A. more costly to insure and therefore employ due to their higher claim submission rate. B. less productive at work. C. experience higher rates of absenteeism and early retirement. D. all of the above. E. A and B only. Regarding the…
- Question 40 The following is/are public health insurance program offered as safety nets to insure low income populations in India: (select all that apply) Life Cover under Pradhan Mantri Jan Dhan Yojana or PMJDY O Rashtriya Swastha Bhima Yojna or RSBY Pradhan Mantri Suraksha Bima Yojana or PMSBY O Prime Minister Jan Arogya Yojna or PM-JAY8. Agreement and disagreement among economists Suppose that Dmitri, an economist from a research institute in Texas, and Frances, an economist from a university in Massachusetts, are arguing over health Insurance. The following dialogue shows an excerpt from their debate: Frances: A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. Dmitri: 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. Frances: 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? Employers should not be restricted from outsourcing work to foreign nations. Business managers can raise profit more easily by reducing costs than by…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…