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Imagine someone receives a large, one-time payment, such as an inheritance. How would the Grossman model predict that this income shock would impact an individual's
Imagine someone receives a large, one-time payment, such as an inheritance. How would the Grossman model predict that this income shock would impact an individual's choices about their healthcare expenditures M and time spent on health T ?
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M would increase, time spent on health would increase
M would decrease, time spent on health would decrease
M would decrease, time spent on health would increase
M would increase, time spent on health would decrease
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