Please complete questions

Question 1 (6 points) The study of health economics often starts with use of a basic two-good model. Please indicate which of the following pairs of goods/services are included in the model (choose exactly two from the list provided here) Income All other goods and services Education Health Care Health Housing Question 2 (8 points) The two-good model in health economics is often used to predict behavior under certain conditions. One such circumstance is when there is a change in health status. If a US consumer experiences a major improvement in their health including their expectations of future health, what does the model predict regarding their behavior? For example, say that we are able to completely cure people with diabetes. How would being cured of this chronic disease impact their willingness to pay going forward? Please choose the single answer which best explains what the model expect to happen. Their willingness to pay for health insurance will increase. O None of the above. Their willingness to pay for health care will increase. OOO Their willingness to pay for expected changes in health will increase.Question 3 (8 points) The two-good model in health economics is often used to predict behavior under certain conditions. One such circumstance is when there is a change in health status. If a US consumer experiences a major improvement in their health including their expectations of future health, what does the model predict regarding their behavior? For example, say that we are able to completely cure people with diabetes. How would being cured of this chronic disease impact their marginal value relationships going forward? Please choose the answer which best explains what the model expect to happen. The ratio of the marginal value (utility) of health care to the price of health care has increased. None of the above. O The ratio of the marginal value (utility) of health insurance to the price of health insurance has O increased. The ratio of the marginal value (utility) of changes in health to the price of health has decreased. Question 4 (5 points) Health insurance coverage is an essential element of a country's health system. Briefly indicate how health insurance coverage affects the demand for health care, referencing the price elasticity of demand for health care. Format BI U A/Question 5 (4 points) The high cost and amount of educational debt associated with becoming a physician in the United States (US) has several important consequences for the US supply of new physicians. Please identify which one of the following is NOT one of these consequences Greater socioeconomic diversity of the physician workforce is taking place. Qualified students are choosing fields of study other than medicine. Fewer new doctors are choosing primary care as their specialty. Fewer doctors are starting their own private practices. Question 6 (12 points) Lifespan, a non-profit corporation that is the largest hospital system in Rhode Island, recently announced that it has completed its acquisition of Coastal Medical, the largest for-profit primary care group practice in Rhode Island. Based on what we have covered in this course regarding physician and hospital behavior, please indicate which of the following are likely to occur as a result of this acquisition. More than one response is correct, so please choose ALL answers which you feel apply here. Average health care costs for Coastal patients will increase relative to what they would have been. Being part of Lifespan will increase the cost of new technology and infrastructure investments to Coastal. Being part of Lifespan will lower the cost of new technology and infrastructure investments to Coastal. Average health care costs for Coastal patients will not be affected. Average health care costs for Coastal patients will decrease relative to what they would have been .Lifespan, a non-profit corporation that is the largest hospital system in Rhode Island, recently announced that it has completed its acquisition of Coastal Medical, the largest for-profit primary care group practice in Rhode Island. Based on what we have covered in this course regarding physician and hospital behavior, please indicate which of the following are likely to occur as a result of this acquisition. More than one response is correct, so please choose ALL answers which you feel apply here. )Average health care costs for Coastal patients will increase relative to what they would have been. Being part of Lifespan will increase the cost of new technology and infrastructure investments to Coastal. Being part of Lifespan will lower the cost of new technology and infrastructure investments to Coastal. ) Average health care costs for Coastal patients will not be affected. Average health care costs for Coastal patients will decrease relative to what they would have been . The share of specialty referrals from Coastal physicians to Lifespan specialists will increase. _ The share of specialty referrals from Coastal physicians to Lifespan specialists will decrease. The share of Lifespan hospital admissions involving patients of Coastal physicians will not be affected. ) The share of specialty referrals from Coastal physicians to Lifespan specialists will not be affected. _ Being part of Lifespan will not affect the cost of new technology and infrastructure investments to Coastal. The share of Lifespan hospital admissions involving patients of Coastal physicians will decrease. The share of Lifespan hospital admissions involving patients of Coastal physicians will increase.Question 7 (10 points) The US Is unique in not requiring everyone to have health insurance coverage nor offering universal health Insurance to Its residents/citizens. Unlike these other countries, the US has a significant percentage of people without health insurance. Match each of these US government and private health insurance programs to the primary beneficiaries they are Intended to cover. military veterans and dependents of active duty military 1. Medicaid Adults and their eligible dependents 2. Medicare elderly and disabled 3. VA and Tricare 4. Employer-sponsored health Current and recently benefit plans separated employees and their eligible dependents 5. Individual health benefit plans Low income adults and families Question 8 (20 points) Private health insurance markets are viewed by economists as being inherently unstable due to a phenomenon known as the death spiral. Explain why this is the case using the price of health insurance and consumer willingness to pay, and tell me what can be done to stabilize the market Paragraph BIU la Question 9 (3 points) The current US medical malpractice liability system has produced major improvements in the quality of health care. True FalseQuestion 10 (3 points) The current US medical malpractice liability system increases the incidence of diagnostic testing ordered by physicians, encouraging the practice of defensive medicine. True False Question 11 (3 points) The cost and availability of medical malpractice insurance is influenced more by cyclical competition and investment market performance than by trends in the frequency and magnitude of malpractice claims settlements and damage awards. True False Question 12 (3 points) The current US medical malpractice liability system leads to many "false positive" outcomes, i.e., claimants who did not suffer from negligent care receiving damage awards and settlements. True FalseConsumers face a variety of challenges as health markets rarely meet the requirements for competitive markets which allocate resources efficiently. Match each of the challenges listed below with the example which best illustrates it. Patients have to schedule individual appointments with each of multiple potential doctors to gather information about how they would treat the patient's specific condition(s), including their rationale as to why (pros and cons). Information technology systems required of many health care providers and health insurance companies cost millions of dollars to license, configure and implement. Hospitals prefer to incur 1. Information asymmetry the risk of modest government fines rather 2. Lack of price transparency than making publicly available information on how much they charge for 3. High search costs common types of procedures 4. Negative externalities Large hospital systems 5. Producer/supplier market power are able to negotiate higher payment rates than smaller hospitals 6. Barriers to entry from private health insurance programs, without any evidence of higher quality being provided Doctors in a given specialty do not report on the mix of patients they treat by diagnosis and treatment categories Individuals who do not receive a COVID-19 vaccination increase the risk of others contracting it and of vaccine-resistant strains of the virus developing and spreading.Question 14 (10 points) What are the five pillars of the Canada Health Act of 1984? Question 15 (10 points) How does the Canadian health care system control hospital costs? Select ALL of the applicable approaches below (more than one may be correct). Benefit plan coverage limits on hospital care Mandatory global budget for each hospital _) Restrictions on new investments in capital assets and technology ()Prior authorization approval requirements for hospital care Negotiated fee schedule for hospital services