All of the Following Were Arguments in Favor of Health-Care

question 45

Multiple Choice

All of the following were arguments in favor of health-care reform EXCEPT

• A) the need to contain soaring medical costs
• B) the huge number of people without health insurance
• C) the costs to businesses of insuring their employees
• D) successful health-insurance programs in other advanced countries
• E) the support of drug companies and the insurance industry for reform

Distinguish between the substitution and income effects in the context of labor supply and consumption decisions.

Understand the representation and implications of indifference curves in consumer choice theory.

Calculate and interpret the price of goods based on budget constraints and consumer preferences.

Analyze the effects of changes in prices and income on a consumer's budget constraint.

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Definitions:

Socioeconomic Status

A combined measure of an individual's or family’s economic and social position relative to others, based on income, education, and occupation.

Sigmund Freud

An Austrian neurologist known for founding psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Id

In psychoanalytic theory, the part of the personality responsible for basic drives and instincts.

Ego

In Freud’s theory, a set of reactions that try to reconcile the id’s blind pleasure strivings with the demands of reality.