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EC248 Exam Questions and Answers
EC248 Exam Questions and Answers
[Show more]EC248 Exam Questions and Answers
[Show more]Health care 
a) is the most important determinant of health in OECD countries. 
b) is the most expensive determinant of health in OECD countries. 
c) spending continues to grow rapidly in most OECD countries. 
d) sector is one of the largest sectors in most OECD countries. 
o :# sector is one of the...
Preview 4 out of 59 pages
Add to cartHealth care 
a) is the most important determinant of health in OECD countries. 
b) is the most expensive determinant of health in OECD countries. 
c) spending continues to grow rapidly in most OECD countries. 
d) sector is one of the largest sectors in most OECD countries. 
o :# sector is one of the...
Demand for Insurance 
o :# - risk because there is a fear of the unknown 
- forfeiting income in good times to get money in bad times 
Risk Aversion 
o :# U'(1)>0, utility increases with income 
U''(1)<0, marginal utility for income is declining 
Uncertainty 
o :# - probability of sickness=...
Preview 4 out of 31 pages
Add to cartDemand for Insurance 
o :# - risk because there is a fear of the unknown 
- forfeiting income in good times to get money in bad times 
Risk Aversion 
o :# U'(1)>0, utility increases with income 
U''(1)<0, marginal utility for income is declining 
Uncertainty 
o :# - probability of sickness=...
Utilization of health care is often the starting point for studies into the need and/or 
demand for health care because 
A.the concepts are interchangeable and utilization is easiest to measure. 
B.demand and utilization are equal and need is unobservable. 
C.demand and utilization are similar and ...
Preview 3 out of 22 pages
Add to cartUtilization of health care is often the starting point for studies into the need and/or 
demand for health care because 
A.the concepts are interchangeable and utilization is easiest to measure. 
B.demand and utilization are equal and need is unobservable. 
C.demand and utilization are similar and ...
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