- 24.1: Why would increased spending as a percentage of GDP on, say, househ...
- 24.2: What are the twin problems of the health care industry as viewed by...
- 24.3: Briefly describe the main features of Medicare and Medicaid, indica...
- 24.4: What are the implications of rapidly rising health care prices and ...
- 24.5: What are the main groups without health insurance? LO24.3
- 24.6: List the special characteristics of the U.S. health care market and...
- 24.7: What are the estimated income and price elasticities of demand for ...
- 24.8: Briefly discuss the demand and supply factors that contribute to ri...
- 24.9: How do advances in medical technology and health insurance interact...
- 24.10: Using the concepts in Chapter 7s discussion of consumer behavior, e...
- 24.11: How is the moral hazard problem relevant to the health care market?...
- 24.12: What is the rationale for exempting a firms contribution to its wor...
- 24.13: What are (a) preferred provider organizations and (b) health mainte...
- 24.14: What are health savings accounts (HSAs)? How might they reduce the ...
- 24.15: Why is the PPACAs attempt to extend insurance coverage to all Ameri...
- 24.16: How does the PPACA attempt to ensure affordable health insurance fo...
- 24.17: What were the objections made by opponents of the PPACA? LO24.6
- 24.18: last word What are the three major cost-reducing features of the Si...
Solutions for Chapter 24: Health Care
Full solutions for Microeconomics | 21st Edition
an excess of tax revenue over government spending
a group of firms acting in unison
a visual model of the economy that shows how dollars flow through markets among households and firms
the deviation of unemployment from its natural rate
diseconomies of scale
the property whereby long-run average total cost rises as the quantity of output increases
unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills
a good for which, other things being equal, an increase in income leads to a decrease in demand
the description of asset prices that rationally reflect all available information
law of supply
the claim that, other things being equal, the quantity supplied of a good rises when the price of the good rises
marginal product of labor
the increase in the amount of output from an additional unit of labor
an institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds
spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)
variables measured in monetary units
people who systematically and purposefully do the best they can to achieve their objectives
the limited nature of society’s resources
the change in consumption that results when a price change moves the consumer along a given indifference curve to a point with a new marginal rate of substitution
a situation in which quantity supplied is greater than quantity demanded
society’s understanding of the best ways to produce goods and services
the value of a nation’s exports minus the value of its imports; also called net exports
a measure of happiness or satisfaction