What Are the Four Guiding Principles That Have Been Proposed

question 8

Multiple Choice

What are the four guiding principles that have been proposed as plans to contribute to health care sustainability?

• A) accountability, value, fair access, and timely access
• B) accountability, value, fair access, and truthfulness
• C) accountability, value, fair access, and appropriateness of care
• D) accountability, value, fair access, and sustainability

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Definitions:

Income Effect

The change in the quantity of a good consumed that results from the change in a consumer’s purchasing power due to the change in the price of the good.

Substitution Effect

The adjustment in consumer behavior because of shifts in the prices of goods relative to each other, causing consumers to choose different goods over previously preferred ones.

Normal Good

A good whose demand increases as consumer income increases, demonstrating how economic well-being influences consumer choices.

Child Tax Credit

A tax benefit offered to families with children, providing a reduction in their tax liability per child.