How might this new policy impact who gets insurance? Answer

  1. How might this new policy impact who gets insurance?  Answer
  2. Suppose the U.S. government’s tax policies on employer health coverage were to be changed. In particular, suppose health premiums paid through the employer were no longer tax exempt
  3. Will there still be a tendency for plans that have relatively high premiums and low OOP costs?
  4. In a paragraph or two, concisely answer these questions and clearly explain your reasoning.
  5. Individuals without health insurance impose substantial negative externalities on those who do.
  6. In a paragraph, list some of these externalities and briefly describe their significance.
  7. Let’s divide medical care into two groups.
  8.  Compare the following two insurance policies: a) 25% coinsurance for all medical care (the individual is responsible for 25% of the bill); b) 100% coinsurance for Routine care, 0% coinsurance for Catastrophic care.
  9. Describe the “three-legged-stool” of the Affordable Care Act.
  10. Why is the stool likely to fall if one of the legs is removed?
  11. what is meant by “retrospective” billing of health care expenses?
  12. How can a system of retrospective billing impact health care expenditures?

 

Education is a ‘mixed public’ good ? Answer

  1. Education is a ‘mixed public’ good ? Answer
  2. If education is left to a purely private maket decision based only on the cost and return to the individual
  3. there will always be socially sub-optimal investment in education.
  4. A mixed public good is a marriage between private and public good
  5. Education is not free from a society point of view
  6. From the e-Activity, analyze government policy concerning educational reform and determine the best possible way to proceed

What are the efficiency and equity effects of introducing a voucher system likely to differ across these two areas? Answer

  1. What are the efficiency and equity effects of introducing a voucher system likely to differ across these two areas? Answer
  2. Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts
  3. Suppose the town of State College has three families, each with one child, and each of which earns $20,000 per year (pre-tax). Each family is taxed $4,000 per year to finance the public school system in the town, which any family can then freely attend
  4. Graph the budget constraints facing each of the three families and draw a possible indifference curve which could correspond to the choice each family makes
  5. Draw the budget constraint the families would face under this system.
  6. In a paragraph, describe why the same types of problems may exist in government as well, where elected officials are the agents and voters are the principals.
  7. In a paragraph (or two) explain why this behavior is consistent with a size-maximizing government?
  8. What are the total benefits from each project?
  9. If a vote were held for each project, what would be the result for each project? Is this socially optimal?
  10. If these reperesentatives were to logroll (trade votes) to get their prefered policy to pass, what would be the result?
  11. Is the final result from c) an improvement over the outcome of b)? Is it optimal?
  12. As hinted, one of the representatives will be left out of the logrolling. In principal, is there anything else that representative can do to get his/her preferred policy passed?
  13. If a vote were held for each project, what would be the result for each project? Is this socially optimal?
  14. If these reperesentatives were to logroll (trade votes) to get their prefered policy to pass, what would be the result?
  15. Is the final result from h) an improvement over the outcome of g)?
  16. What conclusions, if any, can we make about the practice of logrolling from these examples?

Government often issue grants to influence business operation Answer

  1. Government often issue grants to influence business operation Answer
  2. Government grants can be viewed as increased government spending.
  3. Some important measures to fix social security are
  4. Health care spending is a key component of any industrialized country’s economy.
  5. Today, health care costs are high and rising even higher.
  6. private mix in financing and provisioning

Describe what you would say to persuade another student that this class is a valuable elective to take. Answer

  1. Describe what you would say to persuade another student that this class is a valuable elective to take. Answer
  2. Identify and discuss three key principles learned in the course
  3. Intrinsic motivation to learn
  4. Similarity is a bridge-builder
  5. Discuss how each of these principles can help you in your current or future career positions.
  6. What song best represents your experience in this class? State why by providing a description of the song or a few lyrics of the song

Read through the examples below and then identify the US, CS, UR, and CR in each of the examples Answer

  1. Read through the examples below and then identify the US, CS, UR, and CR in each of the examples Answer
  2. Elmer really likes to cook with onions and he puts onions into almost everything he makes. He usually starts dinner everyday around 5:00pm. As he is cutting the onions, the grandfather clock chimes five times because it is 5:00pm. Elmer is also crying because cutting the onions makes his eyes water. One evening he is at a friend’s house because they are going out to dinner later. He and his friend are watching TV and the clock chimes five times when it is 5:00pm. Elmer’s eyes start to water.