1) What are the economic reasons for the high ratio of specialists to general pr
ID: 1223676 • Letter: 1
Question
1) What are the economic reasons for the high ratio of specialists to general practitioners in the United States compared to other countries?
2) The AMA has often been through to behave like a trade union in restricting the supply of physicians in order to keep earning high. What evidence is there that the AMA has acted this way?
3) Is there a chronic shortage of nurses in the United States? Explain this from an economist‘s and health planner’s perspective. 4) The market for nurses has characteristics of monopsony .outline arguments on both sides of the statement.
Explanation / Answer
The major reason behind the large ratio of specialists to general practitioners in the United States is the low wages and incentives provided to the general physicians, which discourages the to-be-doctors to get into general practice and rather focus on getting a specialization, as it would lead to greater returns in the long run.
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