29. Which of the following is true about the Federal Medicaid program for low-in

Question

29. Which of the following is true about the Federal Medicaid program for low-income households (known as MediCal here in California) a) it serves fewer people than Medicare and will serve even fewer as states opt out of the ACA b) it serves more people than Medicare and will expand more under the ACA; c) it serves fewer people than Medicare but will expand more under the ACA; d) it serves more people than Medicare but will serve fewer as states opt out of the ACA; When the Lorentz curve for income is closer to the sides of the graph: a) there is more unequal distribution of income; b) there is more equal distribution of income; c) there are more social welfare and social insurance programs; d) the Lorentz curve is always on the diagonal. 230. Government programs that redistribute income but have no income or wealth limits are: a) social welfare programs; b) social insurance programs; c) both social welfare and social insurance programs d) neither social welfare nor social insurance programs 31. 32. Which of the following was the main reason why Alexander Hamilton advocated for tariffs? a) to specialize and trade more b) to protect American workers against cheaper foreign labor c) to deal with the positive externalities of imports d) to protect infant American industries. 33. Supporters of free trade who argue that free trade is needed to spur economic growth base their arguments on: a) economic theory (comparative advantage) b) historical experience (how did Britain, the U.S. and Japan develop) c) both economic theory and historical evidence d) neither economic theory nor historical evidence When compared to most other developed economies, the health care system in the United States: a) costs less and leads to better health outcomes on average; b) costs less and leads to worse health outcomes on average; c) costs more and leads to worse health outcomes on average d) costs more and leads to better health outcomes on average; 34. 35. Which of the following health care systems was NOT used in the other countries examined in the film "Sick Around the World" a) a national health care system where doctors are government employees b) a national health insurance system where doctors and hospitals are private but the government provides health insurance for all c) a combination of not-for-profit health insurance and government price regulation d) one where most people get their health insurance from for-profit insurance companies

Explanation / Answer

29. b. Medicaid serves more people than Medicare and will expand under the ACA. While Medicare is federally funded, Medicaid is funded by both Federal and state government. Medicare is only a social insurance program, whereas the Medicaid program is need based social welfare program. Medicaid cover a greater range of health care services and greater number of people.

Under the ACA, 31 states have expanded the Medicaid eligibility to low income adults and adults without dependent children.

30. a. When the Lorenz curve for income is closer to the sides of the graph, there is more unequal distribution of income. It indicates a small segment of population has large amount of income and wealth, while the majority has very limited amount of wealth.

31. a. Social welfare programs. Redistribution of income is taken place from wealthier group to low income group. This redistribution is occurred to reduce income and wealth inequality. Government distributes income either through subsidy, vouchers or transfer payments.

32. d. Alexander Hamilton advocated for tariff to protect infant American industries. He argued that tariff might encourage domestic industries by bringing competition. Import goods that were sold at a lower price than fair value due to subsidies given by the foreign government, affected the domestic industries. Tariff raises the price of the imported good and hence, the domestic infant industries can compete fairly.

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