People who drop out of high school are able to produce more health than college graduates because they have more free time to invest in health production. True False
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- Select and explain at least one factor influencing health economics.What are the differences and similarities between health economics and other forms of economic study?Find evidence that can explain how the difference in educational attainment influences the health of people who reside in that country. Here, you are identifying a determinant of health and at least one risk factor. Summarize what you found and justify the determinant of health and risk factor. (cite in text citation) 4 sentences or more.
- The price elasticity of demand for health care has been estimated to be −0.2. Characterize this demand as price elastic, unit price elastic, or price inelastic. The text argues that the greater the importance of an item in consumer budgets, the greater its elasticity. Health-care costs account for a relatively large share of household budgets. How could the price elasticity of demand for health care be such a small number?What is the importance of health economics.Describe Grossman's Improvement Model of Health. How does Grossman reconcile health as both something in demand and something produced by individuals?