...As my role of a legislature I need to find a way in order to stabilize the public debt to a 60% GDP. In order to come with a solution to stabilize the public debt, I will have to make tough budget choices to maintain an economic development. The budget choices that have to be made are based on the budget path, defense, domestic, social security, healthcare, other spending, revenues, and tax...
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...Homework 1 Explain the concept of opportunity cost using the above article. Use diagrams to explain what has happened to spending on the environment and how the extra money can be found to improve defence infrastructure. [12 marks] Opportunity cost is the cost of the next best alternative which is foregone when a choice is made. In this case a choice has been made to spend less on areas covered by DEFRA, presumably so that other departments do not have to suffer budget cuts because the Government has less money to spend on public services as a whole. For example, DEFRA has been run on £500M less between 2010 and the present and must save a further £300M. This would mean that the NHS budget, for instance, would not have to be cut. Although DEFRA provides a service and not a product, these changes can still be shown on a PPF diagram such as the one below. Production possibility frontiers show the maximum quantities of different combinations of output of two products, given current resources and the state of technology: DEFRA DEFRA A B A B Spending has reduced from point A to point B on the PPF, whilst spending on the NHS, for example, has not altered. Consequently, the maximum output of DEFRA has reduced, whereas that of the NHS has not. Spending has reduced from point A to point B on the PPF, whilst spending on the NHS, for example, has not altered. Consequently, the maximum output of DEFRA has reduced, whereas that of the NHS has not. NHS ...
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...Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by Sherry A. Glied. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Health Care Financing, Efficiency, and Equity Sherry A. Glied NBER Working Paper No. 13881 March 2008 JEL No. H42,H51,I18 ABSTRACT This paper examines the efficiency and equity implications of alternative health care system financing strategies. Using data across the OECD, I find that almost all financing choices are compatible with efficiency in the delivery of health care, and that there has been no consistent and systematic relationship between financing and cost containment. Using data on expenditures and life expectancy by income quintile from the Canadian health care system, I find that universal, publicly-funded health insurance is modestly...
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...ECO 450 Week 5 Mid Term Exam Purchase here http://devrycourse.com/ECO%20450/eco-450-week-5-mid-term-exam Product Description This midterm exam consist of 35 multiple choice questions and covers the material in Chapters 1 through 7. There are five questions from each Chapter. Question 1: If the economy is operating at full employment and using resources efficiently, then an increase in spending for homeland security this year will: Question 2 Following the circular flow of a mixed economy, firms receive a flow of dollars from and send goods and services to: Question 3 In 2008, which country listed below has the highest percentage of government spending relative to GDP? Question 4 Federal government expenditures in the United States account for about: Question 5 A mixed economy is one in which: Question 6 The extra benefit on one more unit of a good or service is its: Question 7 Normative economics is: Question 8 Diamonds are sold by a monopoly firm that maximizes profits. Then it follows that: Question 9 Positive economics: Question 10 If the efficient output of a good is produced each week, then the Question 11 The current competitive market price of fish is $3 per pound. A chemical producer emits effluent into a lake used by a commercial fishing firm. Each ton of chemical output causes a 20-pound reduction in the annual catch of the fishing firm. Assuming that transactions costs are zero and the chemical firm has the legal right to dump...
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...NRSBN 3004 Nursing in a Changing Society Module Leader: Sue Bailey Word Count: 3159 Critically Discuss the Issue of Priority Setting Within the NHS It is no surprise that the role of the nurse has had to change over the last few decades; nurses are dynamic, vital members of a successful health care team. RCN (2009) The role they play is crucial in order to provide a consistent and quality service from health promotion and prevention strategies to clinical treatment, rehabilitation and palliative care. (NHS,2008). Nurses contribute greatly to a modern health care system hence the emergence of many specialist nurse practitioners who have undertaken additional specialist education in order to provide advanced nursing care and nurse prescribing services. RCN (2009) However in order for nurses to uphold the pledge of lifelong learning (NMC, 2008), it is imperative that they improve both clinically and academically and have an understanding of some of the important and current issues within the NHS. One such issue apparent over the last decade, and the cause of much recent debate has revolved around ‘priority setting’ within the NHS. Therefore the focus of this essay will be to critically analyse the subject of priority setting in relation to rationing and funding in the healthcare setting. “It is a matter of fact that rationing exists. It existed under the previous Government, and it exists now. Only when we recognise that rationing is a natural part...
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...Assignment Step 1 – Introduction My name is Angelanne Peni and I’m here to talk to about the economic system. I will be comparing Australia’s economy to North Korea’s economy. I will also be analysing both countries GDP and Economic freedoms in each country. Lastly, I will be evaluating each economic system based on the criteria of choice and public services. Step 2 – Body paragraph 1 The economic system most resembled in Australia is mixed market economy. The economic system most resembled in North Korea is a command economy. Australia is considered to be a mixed market economy due its characteristics by private enterprise coupled with strong controlling oversight by the government and government provision of public goods such as roads. Australia's mixed market economy is a wealthy, market economy where the GDP is high and the rate of poverty is low. (Discoverwhy, 2016) In North Korea they have a planned economy, they also have a dictator. Their dictator can do whatever he wants and make whatever decisions he chooses with respect to the economy, military, etc. The inner circle around a dictator has influence over all kinds of important decisions, including economic decisions. Rather than having buyers, producers and sellers determine how much to produce or supply, such decisions are made by central planners who enforce production quotas based on some idealistic preference. This regularly leads to shortages, surpluses, misallocation of resources and poverty. ...
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...Health Care Spending Economics: The Financing of Health Care HCS 440 December 15, 2013 Health Care Spending The American Dream is described by The Free Dictionary as, “An American ideal of a happy and successful life to which all may aspire” ("Definition," 2013, p. 1) yet this can mean different things to different people. To this student it means happiness, prosperity, health, freedom, and the ability to makes choices according to what this student believes in. For other people, the American Dream will mean similar and probably different things. To many Americans the ability to have health care is a part of the American Dream. Obtaining health care insurance and being able to choose the insurance they can afford is part of their own American Dream. This choice usually comes through their employer or through being self-employed and choosing the appropriate health care insurance. This piece of the American Dream is becoming increasingly expensive and unobtainable. This student will explore current national health care expenditures, is there is too much spent or not enough if cuts need to be made, how health care needs are paid for, and a forecast of the economic needs of the health care system. The level of the current national health care expenditures Health care costs continue to increase. According to the Centers for Medicare and Medicaid Services (CMS), “U.S. health care spending reached $2.7 trillion in 2011, or $8,680 per person. Health spending grew 3.9 percent...
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...Presidents. During the year of 2009, changes were made when our country begin to face difficulties in the financial deficit, which the country still today experiencing. It will explain that the level of the National Health cares spending that was impacted whether it was for the good or worst. It also gathers the total expenditure percentage. The economic of the future of the expenditures is explained to be at a percentage that is represented. The National Expenditure level of the Healthcare in the United States in 2010 was in the round or about $ 2.6 trillion of the Healthcare expenditures .During the time of 1980 the Healthcare expenditure gradually spent over ten million dollars which was approximately stated to be $256 billion. So with the over spending the nation would be explained whether the there should be and cut and or why it was needed.(Expenditures Data, January 2012). A forecast of the health care system in the future economic has a need. The future according to the Health care spending, 2008 It has been predicted that the forecast will have a growth in a faster rate in the nation. During the earlier years the rate had begun to rise in the year of the 1900's and early 2000's the growth rate had slowed down tremendously. (Health care spending, 2008). In the United States there has been a active period of an recession that has been around for the past decade. Due to this past decade of recession in the United State has place the country in lower income and higher...
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...ECONOMICS 310: PUBLIC FINANCE Department of Economics Western Washington University Dr. Julia L. Hansen Fall 2013 Office: PH 339, Office Phone: 6503204 Office hours: TR 1-2 p.m. and 4-4:30 p.m. (or by appointment) Additional office hours will be scheduled prior to exams. E-mail address: julie.hansen@wwu.edu Canvas address*: http://canvas.wwu.edu *Please visit the course page on Canvas for access to course documents, additional readings and links to relevant information on the web. COURSE READINGS: Gruber, Public Finance and Public Policy, 4th edition Additional readings as listed on the course outline COURSE PREREQUISITES: Econ 206 and Econ 207 COURSE DESCRIPTION: Public Finance deals with the taxing and spending activities of government. It is alternatively called Public Sector Economics or Public Economics. The focus of the course is on the microeconomic functions of government, and in particular the way that government affects the allocation of resources and the distribution of income. The analysis of the spending activities of government will include a discussion of public goods, externalities, education, welfare programs, Social Security and health care. On the tax side, we will build a framework for tax analysis, and then apply this framework to the personal income tax, the corporation income tax, and other U.S. taxes. COURSE OBJECTIVES: 1. To understand the economic rationale...
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...develop bespoke business and information packages for clients of all kinds. This briefing outlines the meaning and benefits of social value and provides and oversight of the recent changes to policy in this area. Further information, including relevant guides and toolkits, is included in the ‘further resources’ section at the end of this paper. Introduction The voluntary, community and social enterprise (VCSE) sector has long campaigned for commissioning practice to take social value into account. This would ensure that the full weight of the public sector’s purchasing power is directed at achieving social and environmental benefits, alongside delivering financial efficiency. In addition, VCSEs are well practiced at providing added social value through service delivery across many sectors including health, education, housing and transport. Creating an opportunity for bidders to demonstrate this would enable public bodies to assess which potential providers would deliver...
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...By: Amanda Messler-Layman HCS 440 Health Care Spending. Health care is a huge added player in the hat rides the Current national expenditure levels in the United States has more than tripled in the past decade, while the amount of Americans that can afford private health insurance has dropped and the number of people relying on Medicaid and Medicare has increased with the aging baby boomer generation. Medicaid and Medicare being two of the governments most used medical insurances, the spending in health care has grown faster than the economy can bear. The Medicare physician reimbursement system provides a kind of “public good” for other insurance programs; that is, it offers a universally understood and practiced standard fee schedule that insurance companies can adopt or easily modify by changing the dollar conversion factor separating certain categories. Medicaid, BlueCross, and commercial insurance contracts that cover the 87 percent of the population under age 65 often base their payments on a modified form of the Medicare RBRVS or use Medicare payment levels as a benchmark (Getzen & Moore, 2007). Spending for health care uses a greater part of the economies revenue: the national studies that have been done in the past decade depict that many citizens of the United States will have to make increasingly more disconcerting decisions in daily life and ability to obtain and afford adequate health care insurance for themselves and their families. While...
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...expenditures is astounding. “In 2011, the anticipated total of health care government spending in the United States is 1108.2 billion dollars” (Chantrill, n.d.). Health care spending has increased over the past few years; in 1996 $396.78 billion was spent on health care in 2000 $469.80 billion was spent on health care, and in 2009 $989.65 billion was spent on for treatment (Chantrill, n.d.). Between 1996 and 2009, a period of 13 years, health care spending rose to $592.87 billion dollars. I have learned that the current level of health care spending cannot continue the way it is, or the United States is going to go bankrupt. The current level of health care spending is at an all-time high. This is the one particular reason why the Obamacare came into play. For the most part, it was to save money. The level of national health care expenditures is considerably high in comparison to any other region across the world. “Health spending in the United States is much higher than in other countries – at least $2,535 dollars, or 51% higher than Norway, the next largest per capita spender” (Kaiser Family Foundation, 2011, para. 3). In addition in 2009 the United States spent more than 17% of its gross domestic product on healthcare, which is higher than any other developed nation in the world. The Congressional Budget Office (CBO) predicts “that, without any revolutions in federal law, total spending on health care will rise from 16% of GDP in 2007 to 25% in 2025, and close to 50% in 2082”...
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...compose of people, institutions, private, and public resources that meets the health needs of the targeted populations served. The goal is to serve the populations expectations and provide fair financial contribution. U.S. Healthcare spending’s are financed by a private and public sectors and are supported by Health care funds to use for medical delivery expenses by Medicare and Medicaid programs, which are the main supplier of public financing for the health care expenditures. These financial resources are supported by first, The State County and Municipals General Taxes; Second, Social Health Insurances; third, Private Health Insurances; fourthly from the out of the pocket payments and last but not the least; fifth, from the Donations to the charities. National Health Expenditure Accounts are built on the Historic spending’s, the Projections spending, the Age Estimation spending’s, the health spending’s of providers in 50 States and the locations of District of Columbia, and the numbers of residents between states that consume the health delivery services. Most private health insurances procure through an employer by most Americans with the age of 65 years and under, and others purchase private coverage’s directly from an insurer’s, whereas, government insurances such as Medicaid are offered to individuals that lost their jobs temporarily and Medicare for the elderly. Health Care Expenditure Derived from Private and Public Sectors The U.S. Health care expenditures...
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...However, it must be noted that it would be rather difficult to develop policies that monumentally alter the socioeconomic status of disadvantaged students. As I’ve aforementioned, the goal is not only to identify causes of educational inequality but to also develop policies that will resolve this issue. Furthermore, there are certain caveats that be taken into consideration with respect to the Logan & Burdick-Will study. One may simply conclude from this study that SES is the determining factor of educational attainment. However, this one finding shouldn’t be the be all end all of discussion, because more and more studies are showing that other factors come into play like school choice. In addition, minority students tend to have very little choice with their education, so the sample sizes and datasets of minority students enrolled in charter schools, for example, tend to be relatively small. Therefore, we can’t assume that these findings are unbiased and significant without consulting other...
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...range of ideas and policies, varying from the eminently reasonable to the wildly impractical. Yet however varied and at times unclear in its meaning, privatization has unambiguous political origins and objectives. It emerges from the countermovement against the growth of government in the West and represents the most serious conservative effort of our time to formulate a positive alternative. Privatization proposals do not aim merely to return services to their original location in the private sphere. Some proposals seek to create new kinds of market relations and promise results comparable or superior to conventional public programs. Hence it is a mistake to define and dismiss the movement as simply a replay of traditional opposition to state intervention and expenditure. The current wave of privatization initiatives opens a new chapter in the conflict over the public-private balance. This Article attempts to clarify the meaning of privatization as an idea, as theory and rhetoric, and as a political practice. In the process I...
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