Econ 1-30 Economics of Death

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E.4.1 Explain how markets underproduce public goods, and analyze the role of government to resolve those market failures.
E.4.2 Describe how the government taxes negative externalities (spillovers) and subsidizes positive externalities to resolve the inefficiencies they cause.
E.4.3 Describe the major revenue and expenditure categories in state and federal budgets and their respective proportions, and the challenges of achieving a balanced budget. (E)
E.4.4 Determine whether different types of taxes (e.g., income tax, sales tax, and Federal Income Contributions Act [FICA] tax including Social Security and Medicare) are progressive, proportional, or regressive. (E)
GE.7.1 Define and explain fiscal policy and its tools. (E)
GE.7.2 Define and explain monetary policy and its tools. (E)
GE.7.3 Analyze how the government uses fiscal policy to promote price stability, full employment, and economic growth.
GE.7.4 Explain how the use of fiscal policy affects budget deficits or surpluses and the national debt.
GE.7.5 Analyze how the Federal Reserve uses monetary policy to promote price stability, full employment, and economic growth. (E)

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Lance Hiles

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Econ 1-30 Economics of Death


Econ 1-30 Economics of DeathOnline version E.4.1 Explain how markets underproduce public goods, and analyze the role of government to resolve those market failures. E.4.2 Describe how the government taxes negative externalities (spillovers) and subsidizes positive externalities to resolve the inefficiencies they cause. E.4.3 Describe the major revenue and expenditure categories in state and federal budgets and their respective proportions, and the challenges of achieving a balanced budget. (E) E.4.4 Determine whether different types of taxes (e.g., income tax, sales tax, and Federal Income Contributions Act [FICA] tax including Social Security and Medicare) are progressive, proportional, or regressive. (E) GE.7.1 Define and explain fiscal policy and its tools. (E) GE.7.2 Define and explain monetary policy and its tools. (E) GE.7.3 Analyze how the government uses fiscal policy to promote price stability, full employment, and economic growth. GE.7.4 Explain how the use of fiscal policy affects budget deficits or surpluses and the national debt. GE.7.5 Analyze how the Federal Reserve uses monetary policy to promote price stability, full employment, and economic growth. (E) by Lance Hiles A B C D F G I L M N O P R S U V W X Y Z Contains A It all depends on the type of debt and the state that you live in, whether your relatives have to pay after you die. If you owe ____ ____ debt, & your estate doesn’t have money to pay it, your family won’t be legally obligated to pay it. Contains B Funeral costs begin with a non-____ service fee, which is $2000. No mortician will even look at your body without two grand. This does not include: transporting the body, embalming, makeup, funeral home & staff, hearse rental, casket Starts with C Longer life expectancy can be good for the economy. If we live longer, we have extra time to ____ ____ , which makes the economy grow. Contains D Longer life expectancy can be bad for the economy. U.S. healthcare spending is highest in world, & end of life care is a huge part of that. 50 billion dollars of ____ was spent in the last 2 months of a patient's life. Starts with F A ____ can cost as much as $16,000, especially if you choose a fancy tombstone & graveyard, those that cater to the wealthy. Contains G No one wants to think about death. But there are economic reasons to face it. A cost-effective death is good for society, but when matters are taken care of beforehand, your family can focus on ____ rather than finances. Starts with I People with reduced ____ ____ will die in their 70s. People with increased [same] will die in their 80s. This shows that [same] has an impact on life expectancy. Contains L People have attempted to reduce death costs. Research shows that _____ is the best way to lower costs for end of life care & funerals. Buy life insurance & make a will to distribute your belongings. Starts with M We know that planning is the best way to reduce death costs, but the problem is most people don't want to discuss their ____ . Only 1/3 of people think about end of life care & only 1/3 of people actually do anything about it. Contains N Knowing that upper income levels live longer, we find the rich receive more ____ benefits over their lives. That 89 year old upper-income man collects $522,000 dollars, while the lower-income man only collects $391,000 dollars. Contains O Since Medicare is now allowed to cover ____ for patients with terminal illnesses, this has lowered healthcare expenditures. [same] means going home to die as painless as possible, which is less expensive than dying in a hospital. Contains P Longer life expectancy can be bad for the economy. CDC reports 5 million Americans suffer Alzheimer’s & dementia. People with Alzheimer’s live for a long time, & they need more care, which is ____ . Contains R The government has attempted to reduce death costs. The ____ ____ Commission regulates the funeral industry, restricting what a funeral provider can charge. And changes to Medicare have cut costs by paying for hospice, so people can die at home. Contains S Since Medicare spends billions in the last 2 months of life, what is that money spent on? A study shows most people want to die at home, but over half die in hospitals. Does all the spending make life better, or simply ____ ____ . Contains U People have attempted to reduce death costs. Many of the funeral costs can be managed before you die. ____ ____ can be found everywhere in the U.S., & it is a way to make sure your family is not stuck with your bills. Contains V We know planning is the best way to reduce death costs, & the reason is so doctors & loved ones know what you want, for when you can no longer communicate. If you don’t want doctors to use ____ measures to prolong your life, make sure they know. Starts with W Financial planners can shows you how to give your money to your family & avoid probate court & estate tax. So make sure you have a ____ to guide the distribution of your inheritance. Contains X Across the planet, life ____ at birth is increasing. United Nations: the global average [same] has risen from 65 years for people born between 1990 and 1995, to 70 years for those born between 2010 and 2015. Contains Y If you die after the age of 65, ____ ____ pays your family $250, but that is only 10% of the non-declinable fee just to have a mortician examine your body. Contains Z Longer life expectancy can be bad for the economy. Taking care of people with ____ costs hundreds of billions of dollars, & as healthcare costs increase, that number could reach trillions in the future.

Econ 1-30 Economics of Death

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Econ 1-30 Economics of DeathOnline version

by Lance Hiles

Contains A

It all depends on the type of debt and the state that you live in, whether your relatives have to pay after you die. If you owe ____ ____ debt, & your estate doesn’t have money to pay it, your family won’t be legally obligated to pay it.

Contains B

Funeral costs begin with a non-____ service fee, which is $2000. No mortician will even look at your body without two grand. This does not include: transporting the body, embalming, makeup, funeral home & staff, hearse rental, casket

Starts with C

Longer life expectancy can be good for the economy. If we live longer, we have extra time to ____ ____ , which makes the economy grow.

Contains D

Longer life expectancy can be bad for the economy. U.S. healthcare spending is highest in world, & end of life care is a huge part of that. 50 billion dollars of ____ was spent in the last 2 months of a patient's life.

Starts with F

A ____ can cost as much as $16,000, especially if you choose a fancy tombstone & graveyard, those that cater to the wealthy.

Contains G

No one wants to think about death. But there are economic reasons to face it. A cost-effective death is good for society, but when matters are taken care of beforehand, your family can focus on ____ rather than finances.

Starts with I

People with reduced ____ ____ will die in their 70s. People with increased [same] will die in their 80s. This shows that [same] has an impact on life expectancy.

Contains L

People have attempted to reduce death costs. Research shows that _____ is the best way to lower costs for end of life care & funerals. Buy life insurance & make a will to distribute your belongings.

Starts with M

We know that planning is the best way to reduce death costs, but the problem is most people don't want to discuss their ____ . Only 1/3 of people think about end of life care & only 1/3 of people actually do anything about it.

Contains N

Knowing that upper income levels live longer, we find the rich receive more ____ benefits over their lives. That 89 year old upper-income man collects $522,000 dollars, while the lower-income man only collects $391,000 dollars.

Contains O

Since Medicare is now allowed to cover ____ for patients with terminal illnesses, this has lowered healthcare expenditures. [same] means going home to die as painless as possible, which is less expensive than dying in a hospital.

Contains P

Longer life expectancy can be bad for the economy. CDC reports 5 million Americans suffer Alzheimer’s & dementia. People with Alzheimer’s live for a long time, & they need more care, which is ____ .

Contains R

The government has attempted to reduce death costs. The ____ ____ Commission regulates the funeral industry, restricting what a funeral provider can charge. And changes to Medicare have cut costs by paying for hospice, so people can die at home.

Contains S

Since Medicare spends billions in the last 2 months of life, what is that money spent on? A study shows most people want to die at home, but over half die in hospitals. Does all the spending make life better, or simply ____ ____ .

Contains U

People have attempted to reduce death costs. Many of the funeral costs can be managed before you die. ____ ____ can be found everywhere in the U.S., & it is a way to make sure your family is not stuck with your bills.

Contains V

We know planning is the best way to reduce death costs, & the reason is so doctors & loved ones know what you want, for when you can no longer communicate. If you don’t want doctors to use ____ measures to prolong your life, make sure they know.

Starts with W

Financial planners can shows you how to give your money to your family & avoid probate court & estate tax. So make sure you have a ____ to guide the distribution of your inheritance.

Contains X

Across the planet, life ____ at birth is increasing. United Nations: the global average [same] has risen from 65 years for people born between 1990 and 1995, to 70 years for those born between 2010 and 2015.

Contains Y

If you die after the age of 65, ____ ____ pays your family $250, but that is only 10% of the non-declinable fee just to have a mortician examine your body.

Contains Z

Longer life expectancy can be bad for the economy. Taking care of people with ____ costs hundreds of billions of dollars, & as healthcare costs increase, that number could reach trillions in the future.

It all depends on the type of debt and the state that you live in, whether your relatives have to pay after you die. If you owe debt, & your estate doesn’t have money to pay it, your family won’t be legally obligated to pay it.

Longer life expectancy can be good for the economy. If we live longer, we have extra time to , which makes the economy grow.

People with reduced will die in their 70s. People with increased [same] will die in their 80s. This shows that [same] has an impact on life expectancy.

The government has attempted to reduce death costs. The Commission regulates the funeral industry, restricting what a funeral provider can charge. And changes to Medicare have cut costs by paying for hospice, so people can die at home.

Since Medicare spends billions in the last 2 months of life, what is that money spent on? A study shows most people want to die at home, but over half die in hospitals. Does all the spending make life better, or simply .

People have attempted to reduce death costs. Many of the funeral costs can be managed before you die. can be found everywhere in the U.S., & it is a way to make sure your family is not stuck with your bills.

If you die after the age of 65, pays your family $250, but that is only 10% of the non-declinable fee just to have a mortician examine your body.