Do you believe that basic medical care is a right of citizenship? Explain your answer.

For each of the thirteen homework assignments, some homework questions ask for your opinion and have no right or wrong answers.  For those questions, you get zero points if you do not answer the question, 5 points if you answer the question but do not clearly explain your answer, and 10 points if you answer the question and explain your answer.  Other questions require you to provide correct answers and are also graded zero, 5 or 10 points: zero points if you do not answer the question, 5 points if you answer the question incorrectly, and 10 points if you answer the question correctly.

 

  1. (0, 5 or 10)Do you believe that basic medical care is a right of citizenship? Explain your answer.

 

  1. (0, 5 or 10) In Britain, everyone has the right to health care provided by the National Health Service, paid for out of tax revenue. Nevertheless, two-thirds of British citizens earning more than $80,000 per year currently purchase private health insurance.  Why would these people opt to “pay twice” for health care services?  (HINT: Think of Americans who pay for sending their children to private schools.)

 

  1. (0, 5, or 10)If graduating humanities majors can expect to earn lower lifetime earnings than other majors, why don’t they major in something else?

 

  1. (0, 5, or 10)Consider the following. Joe is deciding whether to go to college full time. If he does not attend college, he will continue to work at his current job. At which Joe earns $14,000 annually. He estimates that tuition and fees at the local public college will be about $10,000 per year and that he can graduate in four years if he does not work. He estimates he will earn about $600,000 more in his working lifetime with a college degree than without one.
  2. What will be Joe’s opportunity cost of four years of college?
  3. What will be his net benefits (benefits minus costs)?
  4. Should Joe make the investment in education?

 

 

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