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Two Health Insurance Cases
(a) Jermaine has a health insurance policy that has a deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments. If Jermaine went to the doctor 4 times (doctor's fee is $40 per visit) and had a surgery that cost $2,000, how much of these expenses did Jermaine pay directly?
(b) Elise has a health insurance policy that has a deductible of $500, a $20 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments. She visited the doctor 4 times last year (doctor's fee is $40 per visit) and underwent a surgery that cost $3,000. If instead she had had a policy with a $1,000 deductible, a $10 copayment on doctor visits and no coinsurance, (excluding the cost of the insurance) would she pay more or less than with her actual policy? By roughly how much (give a range)?
If the price of manufactured goods rises to $6 bushel (a rise of 50%), the parity price of corn as well rises by 50% - to $4.50 in this hypothetical example.
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
When the Bank of Canada sells the government bonds to a commercial bank, the commercial bank experiences a decline in reserves and in increase in bonds. Total assets are unchanged; this is just a portfolio switch between bonds and cash.
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Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?
Problem on standard deviation
Why is it not surprising to find that in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
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Suppose that all other banks hold only the required amount of reserves. If Nan Bank Inc. decides to reduce its reserves to only the required amount, by how much would the economy's money supply increase?
Using the Lerner index, find the price elasticity of demand for Botox and interpret what this value means to total revenue if the price of Botox were increased one percentage point.
Assume the airline industry consisted of only 2 firms: American and Texas Air Corp. Let the two firms have identical cost functions, C(q) = 40q. Suppose the demand curve for industry is given by P = 100 - Q and that each firm expects the other to ..
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