Identify and explain 4 of the difficulties in making cross-country comparisons in health care outcomes
What will be an ideal response?
Data problems: Countries do not always collect data on diseases and other health problems in the same way, so consistency problems can arise.
Problems with measuring health care delivery: Outcomes of many medical activities can be difficult to measure.
Problems with distinguishing health care effectiveness from lifestyle choices: Health care outcomes depend not only on the effectiveness of doctors and hospitals in delivering medical services, but also on individual's choices.
Problems with determining consumer preferences: In the market for health care, governments play a dominant role in supplying the service in most countries, so the cost of the service is not fully reflected in its price.
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In the United States, which of the following is an example of a government-inhibited good?
A) museums B) concerts C) cigarettes D) sports stadiums
Creative destruction by innovation means
a. destruction of an innovative product once it fails in the market. b. introduction of an innovative product makes older substitute goods obsolete. c. substitute goods make innovative goods less competitive in the market. d. introduction of innovative goods increase the competition in the market
Disposable personal income:
A. includes personal income taxes. B. excludes personal income taxes. C. excludes transfer payments. D. is income spent for personal items such as homes and cars.
The economy suffered a mild recession in 2001. Despite the recession, home sales and durable goods sales remained high. Which of the following is a plausible explanation?
A) The Fed's pursuit of contractionary policy stimulated these markets. B) The Fed caused a reduction in the federal funds rate to its lowest level in 40 years. C) Rising inflation encouraged many to invest in the real estate market. D) Home building and consumer durable purchases are always high during a recession.