Private Health Insurance and Medicare
Grand Valley State University
Healthcare is a field that has seen tremendous growth and progress in the last
century within the United States, par
Study Guide: Social Security Part II
1. From 1970 to 2008 Americans personal savings rate has increased steadily.
2. Without Social Security, retirees would have to rely on
B. Workers Compensation
C. Individual Savings or th
Group 10 Study Guide for Income Distribution and Welfare Programs
1. An in-kind welfare program is when?
A. You receive cash benefits
B. You receive certain goods as a benefit
C. You are kind to your neighbor
D. You receive government provided housing
January 8, 2014
Over the past two years I have served on the executive board of my fraternity which has
its own unique challenges. As a member of the executive board, we have access to more
information than most members an
By: Teodoro Chelotti, Emny De Leon, Taylor Flanagan, Molly La Roche,
Alexander LaFontaine, Jessica Nagel, Henry Smits, Stephanie Snowden
Structure of Social Security
Social Security is a federal-income security program that was
Preparation Guide for Quiz on Social Security
Main emphasis: A federal government program which taxes workers to provide income
support to the elderly. Over the next several decades, the aging of the huge baby boom
cohort that was boring in the US in the
Quiz on 10/26/15
Preparation Guide for Quiz on Health Insurance
1. Read Chapter 16: Health Insurance: Medicare, Medicaid, and Health Care Reform
How and for whom these programs operate
2. Main emphasis:
Almost half of all health care spending t
Preparation Guide for Quiz on Education
1. Read Chapter 11: Education
2. Review Education Presentation Materials
3. Main emphasis
PUBLIC FINANCE ISSUES INVOLVED IN PROVIDING EDUCATION:
(1)Why Should the Government be involved in Education at All?
Preparation Guide for Quiz on Social Insurance Programs: UI, DI and WC
1. Read Chapter 14: Unemployment Insurance, Disability Insurance, and Workers
2. Review Unemployment Insurance, Disability Insurance, and Workers Compensation
SOCIAL SECURITY REFORM
Social Security faces a long-run financing problem to which there are no easy
Why the need for reform?
o The program faces a long-term funding challenge caused by 3 factors:
1) Dramatic improvement in life expectancy tha
Structure of Social Security
Social Security is a federal-income security program that was established in 1935 as
part of Franklin Roosevelts New Deal. The taxes paid by current workers are used to
fund the benefits of current
1. Identify what category each of the following goods/services would fit into and
why (public good, common resource, or private good):
a. non-congested non-toll road
b. basketball tickets
c. public pasture for animal grazi
Practice Qs - Final Exam
Use the following information for #1-3.
You have two coal-fire plants that omit carbon dioxide into the air. Their MC of
abatement functions are as follows:
MC1 = 2q1
MC2 = 3q2
The government requires a total o
Problem Set 4
1. You have the following equations in a free market for Skittles:
Q demanded = 6 - 2P (Demand Curve)
Q supplied = 4P (Supply Curve)
a. Find equilibrium P and Q. Label on a graph.
b. Label and calculate consumer and produ
January 26, 2016
Smoothing the Factorys Accounts
Auditors will be coming to the factory in two days to go over the factorys financial statements.
Woods has been systematically altering accounts for years by shipping
Problem Set 7
1. Suppose you live in neighborhood of 30 houses with a mean value of $50,000
(PE = $50,000 QE = 30). Your neighbor has just put new landscaping in and re-sided
his home. His home improvements have made the neighborhood a
Study Guide: Education Part II
1. As the government provides more of a public good, the private sector
will provide less.
B) Returns on Education
C) Consumer Sovereignty
D) Pell Grants
2. What type of externality does education cause?
Consequetialism: whether an act is morally right depends on only on its results.
weigh the good and evil that comes out of an action
for whom is the good measured?
Egoism: for one person (self)
Utilitarianism: for group as a
1st Theorem: competitive (free market) equilibrium maximizes social efficiency.
Equity and Redistribution of Resources
2nd theorem: society can attain any efficient outcome by a suitable distribution of
resources and fr
Marketing 350 Extra Credit Assignment Opportunity Winter 2016
This is an extra credit opportunity.
Maximum 12 points
Due April 22 (late assignments will not be accepted)
This is an optional assignment and it will not hurt your grade if you choose not to t