Ec248 final - Study guides, Class notes & Summaries

EC248 Final Exam questions with correct answers

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 utilization is easy to measure. D.utilization is observable and offers information on demand and need. o :# D.utilization is observable and offers information on demand and need. Evidence indicates...

EC248 Final Exam With Verified Solutions. - answerChapter 7 - risk because there is a fear of the unknown - forfeiting income in good times to get money in bad times - answerDemand for Insurance U'(1)>0, utility increases with income U''(1)<0, marginal utility for income is declining - answerRisk Aversion - probability of sickness= P (between 0 and 1) - probability healthy= 1-p - Is= income if sick - IH>Is= income if healthy E(I)= PIs + (1-P)U(IH) - answerUncertainty - P=...

EC248 Final UPDATED Exam Questions and CORRECT Answers 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. - Correct ANSWER- sector is one of the largest sectors in most OECD countries.

ec248 final questions with correct answers

Ec248 Final Exam Questions With 100% Correct Answers. 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 utilization is easy to measure. D.utilization is observable and offers information on demand and need. - answerD.utilization is observable and ...

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. - sector is one of the largest sectors in most OECD countries.

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. - ANS sector is one of the largest sectors in most OECD countries. What statement best describes a health system? a) Aspects of society that have an important bearing on the health care of individuals and the p...

EC248 Final Exam Questions With Complete Solutions.

EC248 Final PASSED Exam Questions and CORRECT Answers - Correct ANSWER- Chapter 7 - risk because there is a fear of the unknown - forfeiting income in good times to get money in bad times - Correct ANSWER- Demand for Insurance U'(1)>0, utility increases with income U''(1)<0, marginal utility for income is declining - Correct ANSWER- Risk Aversion