________ (HITECH) Which Is a Part of the ARRA Encourages

question 5

Short Answer

________ (HITECH) which is a part of the ARRA encourages the "Meaningful Use of Electronic Medical Records," with 19 billion dollars in incentives through Medicare and Medicaid for doctors and hospitals to adopt them.

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Definitions:

Socially Efficient

An allocation of resources that results in the maximum possible economic benefit for society.

Marginal Revenue

The extra revenue generated from the sale of an additional unit of a product or service.

Deadweight Loss

The reduction in total surplus that results from a market distortion, such as a tax, subsidy, or price control.

Society's Welfare

A measure of the overall well-being and quality of life of the members of a society, often considered in economic terms but also including factors like health, education, and environmental quality.