Ec248 final - Study guides, Class notes & Summaries

EC248 Final Exam Questions With Complete Solutions.

Drug formularies: - help manufacturers determine which drugs are efficacious. -help salesmen determine what to sell -determine which drugs will be covered by third-party payers -Answers b. and c. are correct. - Correct Answer--determine which drugs will be covered by third-party payers In North America it is typical for physicians to work in hospitals but not be employed by them. This is a form of: -vertical integration - horizontal integration -incomplete horizontal integration -in...

EC248 Fall Final questions with correct answers

EC248 Final Exam questions with correct answers

EC248 Final Exam questions with correct answers

EC248 Final Exam questions with correct answers

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= 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) Probability of Sickness o :# - P=1 - E(U)= U(Is)= Is - P=0 - E(U)=U(I...

EC248 Final Exam questions with 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. - Answer-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 population...

The principles of the Canada Health Act include all EXCEPT Universality Portability Equity Public Administration - Answer-Equity The following is not a measure of health outcome: Number of physicians per capita. Population incidence of malaria. Death rate for children under the age of 5. Estimated men's lifespan. - Answer-Number of physicians per capita. In Canada, the supply of physicians has decreased substantially over time resulting in the current shortage. risen steadily over t...