Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

Chapter 1 - Part I - Ten Principles of Economics - Problems and Applications - Page 18: 9


(a) Providing the best healthcare to as many as possible is equality oriented. (b) Providing unemployment benefits until an individual finds employment is equality oriented.

Work Step by Step

(a) The costs associated with offering universal healthcare are incredibly high and thereby inefficient. A minimalist approach would be more efficient — offering healthcare to those who have no access to it, rather than attempting to offer high-quality healthcare to even those who already receive it. (b) The costs of offering unemployment benefits until a person finds employment would be incredibly high, the reason being that there is no way of predicting when or if an individual will find employment. It is more efficient to establish a specific, finite period designated for financial assistance.
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