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Bonus Quiz #2 (2D03)

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Department
Economics
Course
ECON 2D03
Professor
Rashid Khan
Semester
Winter

Description
Bonus Quiz #2 Economic Issues 2D03 October 3, 2013 There are 16 True-False Questions worth 80 marks. Read the questions carefully. If a part of a statement is false, then the whole statement is false. Use scan sheet. Circle A if the statement is true (T) and circle B if the statement is false (F). 1. Demand for health capital is a derived demand and it shifts to the right due to education. Constant marginal return of health capital explains why the demand curve for health capital is a linear down-sloping curve. 2. Economic growth, public health care facilities and modern medicine led to dramatic increases in life expectancy at birth and life expectancy at various other age-categories. 3. Social gradient does affect life expectancy in Canada, because Stat Canada data for the year of 2009 indicates that the life expectancy for males in Canada was 80 years for those in the top-third of the income-distribution and 75 years for the bottom-third of income-distribution. 4. Latest findings show that per-capita health expenditure is about double in comparison to Canada’s per capita health expenditures. Yet U.S. residents received fewer physician and hospital services 5. According to infant mortality rate in Canada and selected countries in 2006, infant mortality in Canada is near the high end of the range among these OECD countries. Although Canada’s rate is notably lower than that of the U.S. (ranked #1 among OECD countries), it is nearly twice that of the best performer, Japan. 6. Problems of sustainability and uncontrolled cost escalations in health care costs in Canada are associated with public funding of health care in Canada 7. Life expectancy rises with income per capita and this relationship is a linear up- sloping line. 8. As depreciation costs of health capital increase, the total costs of health capital will increase if we assume elastic demand for health capital. 9. Aging population and more extensive uses of technology have caused an upward increase in the health care costs in Canada. 10. On grounds of excludability and non-rivalry, dental care services in Canada can be perceived as private goods. 11. Public financing of health (
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