Suppose that Edison, an economist from a college in Pennsylvania, and Hilary, another economist from a nonprofit institution in the Midwest, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over health insurance. The following dialogue represents a portion of the transcript of their discussion: Hilary: A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. Edison: 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. Hilary: 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 Minimum wage laws do more to harm low-skilled workers than help them. O Tariffs and import quotas generally reduce economic welfare. O Lawyers make up an excessive percentage of elected officials.
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- While it may seem intuitively obvious that health expenditures will increase as a population age – older people, after all, are less healthy on average than younger people – in fact, several prominent health economists have argued that it is not ageing per se, but rather some of the correlates of an ageing population that cause health expenditures to rise as population ages. For instance, Getzen (1992) argues that, at least in part, rising health expenditures with an ageing population are due to the higher incomes and resources of the older population; health care is a normal good, so higher incomes lead to higher expenditures. In a similar manner, Zweifel et al. (1999) argue that the real problem with an ageing population, at least as far as health care costs are concerned, is that there will be more people who are within a couple of years of dying. Since health care expenditures rise sharply close to the end of life, it is this, rather than population ageing by itself, that leads to…While it may seem intuitively obvious that health expenditures will increase as a population ages – older people after all are less healthy on average than younger people in fact, several prominent health economists have argued that it is not aging per se, but rather some of the correlates of an aging population that cause health expenditures to rise as a population ages. For instance, Getzen (1992) argues that, at least in part, rising health expenditures with an aging population are due to the higher incomes and resources of the older population; health care is a normal good, so higher incomes lead to higher expenditures. In a similar manner, Zweifel et al. (1999) argue that the real problem with an aging population, at least as far as health care costs are concerned, is that there will be more people who are within a couple of years of dying. Since health care expenditures rise sharply close to the end of life, it is this, rather than population aging by itself, that leads to higher…In a commentary piece on the rising cost of health insurance, ("Healthy, Wealthy, and Wise," Wall Street Journal, May 4, 2004, A20), economists John Cogan, Glenn Hubbard, and Daniel Kessler state, "Each percentage-point rise in health-insurance costs increases the number of uninsured by 300,000 people." Assuming that their claim is correct, demonstrate that the price elasticity of demand for health insurance depends on the number of people who are insured. What is the price elasticity if 192 million people are insured? If 192 million people are insured, then the price elasticity of demand for health insurance is (Enter a numeric response using a real number rounded to three decimal places. Be sure to include the minus sign.) What is the price elasticity if 247 million people are insured? (Enter a numeric If 247 million people are insured, then the price elasticity of demand for health insurance is response using a real number rounded to three decimal places. Be sure to include the…
- 11. Agreement and disagreement among economists Suppose that Rajiv, an economist from a university in Arizona, and Simone, an economist from a nonprofit organization on the West Coast, are arguing over health insurance. The following dialogue shows an excerpt from their debate: Simone: A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. Rajiv: 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. Simone: 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 Having a single income tax rate would improve economic performance. O Rent ceilings reduce the quantity and quality of available housing. O…The following is an excerpt from "The Oregon Experiment- Effects of Medicaid on Clinical Outcomes," by Baicker et al. (2013). Fill in the blank identifying the method used in this paper given the description in the paragraph (I've given you a hint on the key points by italicizing a few phrases): "Adults randomly selected in the lottery were given the option to apply for Medicaid, but not all persons selected by the lottery enrolled in Medicaid (either because they did not apply or because they were deemed ineligible). Lottery selection increased the probability of Medicaid coverage during our study period by 24.1 percentage points (95% confidence interval [CI], 22.3 to 25.9; P<0.001). The subgroup of lottery winners who ultimately enrolled in Medicaid was not comparable to the overall group of persons who did not win the lottery. We, therefore, used a standard______ _approach... to estimate the causal effect of enrollment in Medicaid. Intuitively, since the lottery increased the chance…The UN Committee on Economic, Social, and Cultural Rights (CESCR) is charged with interpreting the International Covenant on Economic, Social, and Cultural Rights (ICESR). In 2000 the Committee released General Comment 14, “The Right to the Highest Attainable Standard of Health”. The General Comment is important for advancing our understanding of a right to health under international law because it: (choose one) A) Sets out what has become known as the “3AQ model” addressing the conditions for health on the basis of Availability, Accessibility, Acceptability, and Quality. B) Creates new, specific obligations with respect to the delivery health care services that are binding on all countries of the world C) Makes it clear that the absence of a right to health in the Canadian Charter or Rights and Freedoms means that Canada is in clear violation of its obligations under the ICESR. D) Offers an account of a right to health that has been used by health advocates around the world E) A, B…
- The following is an excerpt from "The Labor Market Effects of Rising Health Insurance Premiums," by Katherine Baicker, Amitabh Chandra. If workers in a certain sector of the economy or those who are married are systematically more likely to have different levels of unobservable characteristics that affect health insurance premiums, then such a correlation is possible. This problem is identical to the standard endogeneity problem in program evaluation, where receipt of the treatment is correlated with unobservable characteristics of the person receiving treatment. A solution to this problem is to instrument for imputed premiums using variables that are uncorrelated with εi and mi but are correlated with imputed health insurance premiums. In our analysis we use state‐level, per‐capita medical malpractice payments as an instrument for imputed premiums. In other words, in order for malpractice payments to be a valid instrument for health insurance premiums, it must be the case that…Suppose that some members of a population are infected with a sexually transmitted virus that causes disease X, and some are infected with another sexually transmitted virus that causes disease Y. Some members of the population may be infected with both viruses. While diseases X and Y are similar in that they are both sexually transmitted diseases, the disease X is much more harmful to its carriers than the disease Y is to its carriers. Condom use is highly effective in preventing the transmission of either disease. Suppose scientists discover a cure for the sexually transmitted disease X. This cure (a vaccination) will eliminate the virus causing the disease X from its carrier before its carrier can suffer any harm from the virus. Everybody is immediately given this vaccination against the disease X. a. What do you expect to happen to the prevalence of the virus causing the disease X in the population? Draw a graph with time on the horizontal axis and prevalence of the virus causing…Suppose that some members of a population are infected with a sexually transmitted virus that causes disease X, and some are infected with another sexually transmitted virus that causes disease Y. Some members of the population may be infected with both viruses. While diseases X and Y are similar in that they are both sexually transmitted diseases, the disease X is much more harmful to its carriers than the disease Y is to its carriers. Condom use is highly effective in preventing the transmission of either disease. Suppose scientists discover a cure for the sexually transmitted disease X. This cure (a vaccination) will eliminate the virus causing the disease X from its carrier before its carrier can suffer any harm from the virus. Everybody is immediately given this vaccination against the disease X. What do you expect to happen to the rate of condom use in the population over time? Add a curve for the rate of condom use to your graph.
- In the early 2000s, the state of Massachusetts in the U.S. implemented a health reform aimed at enrolling people without health insurance into an insurance plan. The reform required people without health insurance (at least those who could afford it) to buy insurance, and put in place penalties on those who nevertheless chose not to buy insurance. Below is the abstract of a recent National Bureau of Economic Research working paper entitled “Health Reform, Health Insurance, and Selection: Estimating Selection into Health Insurance Using the Massachusetts Health Reform” by Martin Hackmann, Jonathan Kolstad, and Amanda Kowalski. The authors conducted a study of the effects of the Massachusetts reform. They write: We implement an empirical test for selection into health insurance using changes in coverage induced by the introduction of mandated health insurance in Massachusetts. Our test examines changes in the cost of the newly insured relative to those who were insured prior to the…Suppose that a study finds that the price elasticity of demand for MRI's is 0.3 (in absolute value). If the price of care were to ___ by 3%, we would expect the quantity of preventative care consumed to fall by ____%. Suppose that a study finds that the price elasticity of demand for MRI's is 0.3 (in absolute value). If the price of care were to ___ by 3%, we would expect the quantity of preventative care consumed to fall by ____%. a. fall; 0.3% b. rise; 0.9% c. rise; 0.3% d. fall; 0.9%Suppose you have an insurance plan in which you pay the market price for medical care until you meet a deductible of $1,000, after which you have a coinsurance rate of .20. Answer parts a and b assuming your inverse demand curve for medical care is P = 400 – 10Q and the market price for medical care is $200 per unit.a) Graph the price line and your demand curve. On the graph, label the values of the x and y intercepts of the demand curve, the quantity where you meet the deductible, the horizontal sections of the price line, and the point(s) where the demand curve intersects the price line.b) Find the number of units of medical care that you will demand. Show all calculations that youperformed in your analysis.