Answered: Both moral hazard and demand inducement…

Both moral hazard and demand inducement place us on a _____ medical system. a. flat-of-the-curve b. point of intersection c. tangent d. radius

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 1QR

See similar textbooks

Related questions

Q: The wage rate of Zeta Corp. employees is 20 million per month, while the cost of one unit of machine…

A: The optimal level of production is the result where the minor income got from the last unit…

Q: mestion Completion Status: Moving to another question will save this response. tion 15 Phillips…

A: In the long run, Phillips curve is a vertical line at the natural rate of unemployment.

Q: "The world's poorest countries cannot find anything to export. There is no resource that is abundant…

A: When a comparative advantage is combined with free trade principles, even small, impoverished…

Q: The figure shows the domestic supply and demand of a product in the United States. Suppose the world…

A: The world price $ 14 lies above the equilibrium level where quantity supplied exceeds quantity…

Q: 38) An important financial institution that assists in the initial sale of securities in the primary…

A: At the marketplace, there are numerous financial institutions to provide different types of…

Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…

A: Macroeconomics is all about studying the economic issues at the whole or national or aggregate level…

Q: I have an economics assignment in which the country that i choose is United States of America and…

A: The quick contraction and profound uncertainty about the virus's and economy's outcomes generated a…

Q: A chair manufacturer hires its assembly-line labor for $20 an hour and calculates that the rental…

A: Suppose that a chair can be produced using 4 hours of labor or machinery in any combination. This…

Q: Price of wine Price of coffee 2021 $5 $5 2022 $9 $6 Assuming that wine and coffee…

A: Inflation basically refers as the rate at which prices rise over time. Inflation is usually defined…

Q: Price($) 25 15 9 A B NA H -- с E i DD 0 200 300 600 700 Quantity of Wheat (thousands of bushels)…

A: When the world price lies below the equilibrium, quantity demanded exceeds quantity supplied so the…

Q: Assume that the demand curve for romance novels has a negative slope. If the price of these novels…

A: demand curve is the graphical representation of demand schedule which shows the different demands at…

Q: he table below reports nominal and real GDP for the Tunisia from 2016 to 2018. Year Nominal GDP…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: Assume that you save 10,000USD on the 1st day of every month. Under the monthly 7% compound…

A: The balance on the first day of the 7th month can be calculated by the following formula. Amount =…

Q: Canning Transport is to move goods from three factories (origins) to three distribution centers…

A: Solution:- Given data: Origin-Supply Destination-Demand Shipping costs Let: xij = Quantity shipped…

Q: Question 4 Find the future worth of Machine B that has a first cost of $21,191, an operating cost of…

A: The measure that depicts the value of the current asset at a future date that is being based on an…

Q: Below is the data for the maximum production of the only two products for the countries of Oz and…

A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…

Q: > A Moving to another question will save this response. Question 18 Velocity of money depends on all…

A: Velocity of Money measures the rate at which money is exchanged in the economy. The formula is MY =…

Q: Suppose that the Phillips curve is given by +0.1-2 u₂ and expected inflation is given by where 0 is…

A: Under this other option, various elements influence the assumption for inflation. A significant…

Q: Use the theory of comparative advantage to explain how international trade between two countries…

A: International trade takes place when countries across the globe engage with each other and exchange…

Q: A public park A B C D is an example of a public good with no free riders. cannot be enjoyed by…

A: Ans. A public good is a good that is non-excludable and non-rivalrous. a) Non- excludable -…

Q: If C= 5 +0.6Y, I=4-0.2 r, G = 5, T = 6, X = 10 dan M = 10+ 0.3 Y, Ms = 20, Mdt = 0.1 Y and Mds =…

A: C=5+0.6Y I=4-0.2r G=5 T=6 X=10 M=10+0.3Y Ms=20 Mdt=0.1Y Mds=5-0.1r

Q: c. If all prices (input and output) double, then costs will increase by more than dout d. If a firm…

A: Return to scale, in financial matters, the quantitative change in result of a firm or industry…

Q: 4. Cost-benefit analysis A local college is deciding whether to conduct a campus beautification…

A: A good is a public good if it is non-rival and non-excludable.

Q: What is autarky. Define it's characteristics.

A: Economic system refers to the various rules and regulations that form the economy. Market systems,…

Q: 43) Which is a term that would be included in a bond indenture? a) Interest rate b) Dividend c)…

A: Since you have asked multiple questions, we will solve the first question (Q#43) for you. If you…

Q: Which scenario illustrates initiative as a motivator for behavior change? José notices that he…

A: When talking about motivation in economics, it is also known as networking as one's action will…

Q: 35) When I purchase ___, I own a portion of a firm and have the right to vote on issues important to…

Q: Frank agrees to lend his friend Sammy $1000 for one year so that Sammy can buy a new computer.…

A: A consumer price index is a cost record, the cost of a weighted typical market container of buyer…

Q: First-mover advantage is more important, Multiple Choice than in a repeated sequential game; in a…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Use the black point (plus symbol) to indicate the market equilibrium quantity. Next, use the purple…

A: The optimal allocation of resources in society, taking into consideration all external and internal…

Q: The table below shows the demand for pollution permits to emit hydrocarbons in a particular…

A: Pollution tax assessment charges polluters for the harms their activities cause the climate and…

Q: Suppose Phat there are 10.000 consumers, evenly divided between the four types (A, B, C and D) of…

A: Market demand is the horizontal summation of an individual's demand. It means adding the quantity…

Q: Why are some many countries adopting the western governance systems similar to those found in the…

A: Governance system refers to the system of the government that exists in the country.

Q: 3. P falls, Y rises, N stays the same and W declines. Can all of this be the result of an increase…

A: At the point when financial experts allude to capital, they are alluding to the resources — actual…

Q: What is meant by the term autarky in the field of economics. Please answer from an economics point…

A: The many rules and regulations that make up the economy are referred to as the economic…

Q: 33) Which of the following statements about the characteristics of debt and equity is false? A) They…

A: The difference between debt and equity is debt is the type of loan on which an individual will get a…

Q: How to solve problems in measuring the cost of living so the CPI won’t overstate the true cost of…

A: The cost of living in India varies greatly depending on where you are, who you are, and what you are…

Q: 3. Calculate the break-even point of a beer company with the following cost data: Price Selling…

A: Breakeven point = Fixed cost / [Selling price - Marginal cost]

Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…

A: Macroeconomics deals with economic issues at aggregate level or national level . such as inflation…

Q: Question 10 An open economy is defined by C=100+0.8(Y-T) I=400 X=0.3Y* IM=0.3Y T=1000, G=1000,…

A: Gross Domestic Product (GDP) is the measure of an economy’s total production of goods and services.…

Q: 3. Determinants of aggregate demand The following graph shows an increase in aggregate demand (AD)…

A: A measurement of the entire quantity of demand for all completed products and services produced in…

Q: 5. Refer to the following table. P Qd Qs 1 6 10 60 5 20 1 4 25 40 6 3 30 30 2 50 20 1 60 10 Original…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The cost of the basket of goods in a particular year was $78.00 while in the base year the cost was…

A: In the measurement of an economic activity or an economic index, a base year is utilised for…

Q: 2. What amount would a person with actual cash value (ACV) coverage receive for three-year- old…

A: A valuation of the harmed property, that is its monetary worth at market value promptly going before…

Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…

A: Macroeconomics is a discipline of economics that investigates how an entire economy, the market, or…

Q: Economics Suppose that marginal revenue is given by MR(q) = q³ (q3 + 1)-1. Find the function R(q)…

A: The marginal revenue is the revenue that is additional revenue generated by selling given units of a…

Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…

A: Micro and microeconomics deal with economic issues at the level of individual and aggregate level…

Q: QUESTION 38 What are the two routes that we use to process information, according to the Elaboration…

A: Question 38 The answer is - Central & peripheral

Q: How does a depreciation or devaluation of a nation’s currency operate to eliminate or reduce a…

A: Introduction A country devalues its currency to combat a trade imbalance, which means that an…

Q: “The world’s poorest countries cannot find anything to export. There is no resource that is…

A: A comparative advantage, when joined with streamlined commerce standards, permits even little,…

Concept explainers

Moral Hazard

The moral is a person's behavior towards himself /herself, society, organization, and others. Hazard is something that is happening and is not good. A person may be morally good or bad. It depends on his attitude, ethics, integrity, and values. A person may have the highest reverence for money to that for the truth. In this case, the person may lie and it is said that the person is morally bad.

Question

3.)

Both moral hazard and demand inducement place us on a _____ medical system.

	a. flat-of-the-curve
	b. point of intersection
	c. tangent
	d. radius

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is the problem of moral hazard?
Why is it difficult to measure health outcomes?
1. Suppose Jay has been experiencing back pain, and has four options for treatment a. Plot these four treatments on cost–pain reduction axes. Create a cost-effectiveness frontier by connecting potentially cost-effective treatments Treatment Regimen Total cost Pain reduction Do nothing $0 0 units Chair cushion $100 20 units Cortisone injections $700 25 units Acupuncture $1000 50 units Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
2.) Two sources of inefficiency that managed care attempts to address are moral hazard and demand inducement. True or false? a. True b. False
Economics 1. Does the demand for healthcare services vary in size with the affordable costs? 2.) Two sources of inefficiency that managed care attempts to address are moral hazard and demand inducement. True or false? a. True b. False 3.) Both moral hazard and demand inducement place us on a _____ medical system. a. flat-of-the-curve b. point of intersection c. tangent d. radius 4.) Managed care and managed competition are the same concept? True or false? a. True b False 5.) It is illegal for managed care organization to introduce competition among providers? True or false? a. True b False 6.) Government intervention arises from market failure and often includes which of the following? a competition generation b. tax policy c. competition generation and tax policy d. neither competition generation nor tax policy
1. Fun with cost-sharing. An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. a. Suppose a consumer’s demand for a particular medical procedure is Q = 100 − PP. Draw her demand curve in PL–Q space under the assumption of no insurance and label it D1. You will have to think about the relationship between PL and PP to draw it correctly. b. Now assume the same consumer is fully insured. Think about how this affects the relationship between PL and PP and draw a full-insurance demand curve in PL– Q space. Label this curve D2. c. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of…
12. True or False? Medicaid is a U.S. federal- and state- government-sponsored insurance program that provides insurance to people under age 65 whose incomes fall below a certain threshold (level). O True O False
2. A) Discuss health insurance contract? b)What schemes are applicable for routine medical check-up and diagnostic tests?
14 Imperfect competition and moral hazard. Some economists have argued that moral hazard and monopolistic health care markets are two socially inefficient problems that e 19bnu partially cancel each other out. Relative to the optimal level of health care Q*, how much health care is provided in the presence of moral hazard? Assume perfectly competitive health care markets. a bns b Relative to the optimal level of health care Q*, how much health care is provided in m the presence of monopolistic health care markets? Assume no moral hazard. A bne c Write a one-sentence defense of the argument that moral hazard and imperfectly competitive health care markets could combine to provide a good level of health care provision Q. d Gaynor and Vogt (2000) contend that this argument is not quite right. Draw your own version of the Pauly tradeoff diagram (Figure 11.8) with a locus of feasible contracts under moral hazard and perfect competition in the health care market. Now draw a new focus of…
1. What assumptions of the perfectly competitive marketplace are violated in medical markets? How does each affect equilibrium price and quantity? 2. One of the significant problems in medical care markets may be the informationproblem. Asymmetric information has led to two important defects in the medicalmarketplace. What are they? How do these defects affect medical markets? 3. Explain how market failure can be used to justify government intervention in medical care markets.4. What are the three areas objectively used to evaluate the effectiveness of medical care delivery? Why are they important?
6 Explain why does the government act as a producer of health insurance for certain population group?
14. Which of the following statements is not true of accreditation? a. It is a voluntary process. b. State law says it must be renewed every year. c. Specific agencies are responsible for accrediting certain health education programs d. Accreditation reflects quality and is usually voluntary.