The Economics of Death: Crash Course Econ

The video explores the economic implications of death, focusing on the United States. It discusses life expectancy trends, economic disparities, and the costs associated with end-of-life care and funerals. The video emphasizes the importance of planning to manage these costs effectively, highlighting the role of government regulations and personal financial planning. It also touches on the ethical considerations of end-of-life care and the impact of longer lifespans on healthcare systems.

What is the primary focus of the Crash Course episode on death?

• The cultural practices surrounding death worldwide

• The economic impacts of death in the United States

• The moral implications of death

• The biological process of dying

How has global life expectancy changed from 1990-1995 to 2010-2015?

• Increased from 65 to 70 years

• Increased from 60 to 65 years

• Decreased from 70 to 65 years

• Remained constant at 65 years

What is a significant factor affecting life expectancy in the US?

• Geographical location

• Income level

• Educational background

• Dietary habits

What is one argument economists make about increased lifespans?

• They contribute to economic growth

• They lead to decreased consumption

• They are detrimental to economic growth

• They have no impact on the economy

What is a major cost associated with longer lifespans?

• Higher education costs

• Rising healthcare expenses

• Increased travel expenses

• More expensive housing

What is the median cost of a funeral with viewing and burial in the US as of 2014?

• $5,000

• $7,181

• $10,000

• $15,000

What role does the Federal Trade Commission play in the funeral industry?

• It offers discounts on funeral services

• It provides funding for funerals

• It regulates what funeral providers can charge

• It sets the prices for funerals

What is a recommended strategy to manage end-of-life expenses?

• Avoid discussing death

• Plan ahead with directives and insurance

• Rely solely on social security

• Ignore financial planning

What happens to credit card debt if the deceased's estate cannot pay it off?

• The family must pay it

• The government pays it

• The creditor absorbs the loss

• The debt is forgiven

What is a common preference for end-of-life care among Americans?

• Dying in a hospital

• Dying at home

• Dying in a nursing home

• Dying abroad