Which of the Following Is an Example of an Efficiency-Equity

question 185

Multiple Choice

Which of the following is an example of an efficiency-equity trade-off faced by economic agents?

• A)According to an article by in the American Journal of Public Health by Edward Kaplan and Michael Merson of Yale University School of Medicine, the federal government's current method of allocating HIV-prevention resources is not cost-effective. Instead of allocating resources to states in proportion to reported AIDS cases, resources should flow first to those activities that prevent more infections per dollar and then to less and less effective combinations of programs and populations until funds are exhausted, even if it means that some populations would be left without any prevention services.
• B)Concerned about the falling birth rate, the French government has pledged more money for families with three children, in an effort to encourage working women to have more babies.
• C)Some U.S. colleges are actively recruiting foreign students for their technology-based programs.
• D)All New York City art museums are considering adopting a free-admission policy for local residents one weekend per month.

Understand the mechanisms of blood typing, including antigens and antibodies present in different blood types.

Identify the effects of various conditions on hematocrit levels and erythrocyte production.

Recognize the physiological response of leukocytes to infections, including parasitic infections.

Describe the interaction between coagulation times and the health state of an individual.

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Definitions:

Winner-Take-All Markets

Markets in which the top performers are able to capture a very large share of the rewards, and the rest are left with very little.

Substitution Effect

The economic understanding that as prices rise or incomes decrease, consumers will replace more expensive items with less costly alternatives.

Income Effect

The Income Effect refers to the change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.

Substitution Effect

the component of the total effect of a price change on consumption that results from the consumer substituting the good that has become relatively cheaper for the good that has become relatively more expensive.