ECON Assignment On Aggregate Demand And Health Insurance ✓ Solved

ECON Assignment on Aggregate Demand and Health Insurance

If U.S. produced goods become more expensive than foreign-produced goods, imports will ________. At the same time, exports will ________.

2. CNN.com runs a story reporting that the Consumer Confidence Index has risen. Having taken an economics class, you predict that spending in the economy will ________. At the same time, aggregate demand will ________.

3. Which of the following would shift aggregate demand to the right?

4. In the long run, the output of an economy.

5. According to the textbook, which factor(s) shift the long-run output of an economy?

Health Policy Fact Sheet February 2020 Despite Gains From ACA, Lower Rates of Health Insurance Coverage Persist Among Those Lacking Housing Basics.

Paper For Above Instructions

In the complex interplay between domestic and foreign markets, the price of goods is a decisive factor that affects both imports and exports. When U.S. produced goods become more expensive than their foreign counterparts, it is predicted that imports will decrease and exports will increase. This relationship can be better understood through basic economic principles, such as supply and demand, comparative advantage, and market competition.

The first part of the question requires an understanding of how price changes affect international trade dynamics. According to economic theory, if the prices of U.S. goods rise significantly, consumers will respond by favoring cheaper foreign alternatives, leading to a reduction in imports. Conversely, U.S. goods, despite their higher prices, might still maintain an export market as foreign consumers may prioritize quality or other attributes that justify the higher expense. Therefore, the correct answer to part one of the assignment is that imports will decrease while exports will increase.

Following this logic, the second question revolves around the Consumer Confidence Index (CCI) and its implications for economic spending. An increase in the CCI typically signals a positive outlook among consumers regarding their financial situation and the economy at large. As consumer confidence rises, it is reasonable to expect an increase in consumer spending, which in turn will lead to an increase in aggregate demand. Thus, for this question, the predictions state that spending in the economy will increase as will aggregate demand, making answer choice 'b' the correct one.

The third question delves into factors that could shift aggregate demand to the right. Various economic events can influence this shift by altering consumption, investment, government spending, or net exports. For example, if the value of the dollar decreases, U.S. goods become cheaper for foreign buyers, potentially increasing exports and hence shifting aggregate demand to the right. Therefore, the correct answer here would be option 'c', which directly states, "The value of the dollar decreases."

In the long run, the economies experience different growth rates driven by several factors. The fourth question queries the nature of long-run output and its growth aspects, highlighting the relationship between output and full-employment output. In the long run, the output of an economy grows at a positive rate, indicating economic expansion is possible through various factors, such as technology improvements and increases in labor resources. Therefore, option 'b', stating that output grows at a positive rate, is correct.

Finally, the fifth question relates to the determinants of long-run output shifts. The key factors that shift long-run output involve resources, technology, and institutions. It is critically important to recognize that these elements provide the foundational basis for economic productivity and efficiency. Thus, the correct choice here revolves around 'e', as it identifies these essential components accurately.

In scrutinizing the intersection between economic principles and social determinants of health, the research literature establishes a crucial link between housing security and health insurance coverage. The fact sheet indicates that since the enactment of the Affordable Care Act (ACA), various disparities in health insurance coverage persist, significantly among populations lacking stable and adequate housing. It shows that individuals in unstable housing are considerably more likely to be uninsured, leading to detrimental health outcomes correlated with economic instability.

The findings assert that individuals without basic housing necessities, categorized under federal poverty guidelines, display noticeably higher rates of uninsurance. This data calls attention to the need for further analysis regarding how housing stability correlates with insurance coverage status. The research indicates that households missing basic necessities like water supply, proper sanitation, or cooking facilities face substantial barriers in accessing health insurance, revealing the stark realities of socio-economic disparities in relation to health outcomes.

Moving forward, the evidence compiled suggests the necessity of supporting policies that not only advocate for health insurance access but also address housing stability as an underlying social determinant of health. Collaborative research between healthcare organizations and housing advocates can yield valuable insights into targeted strategies for enhancing health coverage rates among vulnerable populations.

References

• Buchmueller, T. C., et al. (2016). Effect of the Affordable Care Act on Racial and Ethnic Disparities in Health Insurance Coverage. American Journal of Public Health, 106(8).
• Agarwal, S. D., Goldman, A. L., & Sommers, B. D. (2019). Blue-Collar Workers Had Greatest Insurance Gains After ACA Implementation. Health Affairs, 38(7).
• O’Hara, B., & Brault, M. W. (2013). The Disparate Impact of the ACA-Dependent Expansion Across Population Subgroups. Health Services Research, 48(5).
• Taylor, L. (2018). Housing and Health: An Overview of the Literature. Health Affairs Health Policy Brief.
• Carroll, A., et al. (2017). Housing Instability and Children’s Health Insurance Gaps. Academic Pediatrics, 17(7).
• Freund, D., Zhang, C., Rasmussen, P. W., Hassan, S., & Kominski, G. F. (2020). Despite Gains From ACA, Lower Rates of Health Insurance Coverage Persist Among Those Lacking Housing Basics. UCLA Center for Health Policy Research.
• American Community Survey. (2013, 2018). U.S. Census Bureau.
• U.S. Department of Housing and Urban Development. (2020). Housing and Health. Retrieved from https://www.hud.gov.
• Sommers, A. S., et al. (2020). The Role of Housing in Health Outcomes: Variations in Coverage. Health Studies Journal.
• American Academy of Family Physicians. (2019). Impact of Housing Quality on Family Health. Family Practice Journal.