Question 1

Sometimes healthy people drop their health insurance,leaving only sicker people to buy insurance.This phenomenon creates a situation known as:

Accepted Answer

A) moral hazard. 
B) an efficient free market outcome. 
C) adverse selection. 
D) maximizing profits. 
A) moral hazard. 
B) an efficient free market outcome. 
C) adverse selection. 
D) maximizing profits.

Question 2

Over the past two decades,the share of income going to the richest Americans has _____ than the share going to the poorest Americans.

Accepted Answer

A) risen faster 
B) risen more slowly 
C) fallen faster 
D) fallen more slowly 
A) risen faster 
B) risen more slowly 
C) fallen faster 
D) fallen more slowly

Question 3

People who are uninsured are likely NOT so because:

Accepted Answer

A) their employer does not provide health insurance. 
B) they are too old to qualify for health insurance. 
C) they are relatively healthy and choose to save their money,rather than buy insurance. 
D) they are unemployed and can't afford to purchase insurance. 
A) their employer does not provide health insurance. 
B) they are too old to qualify for health insurance. 
C) they are relatively healthy and choose to save their money,rather than buy insurance. 
D) they are unemployed and can't afford to purchase insurance.

Question 4

The _____ identifies the level of income at which half of the households in the population earn more and half of the population earns less.

Accepted Answer

A) median household income 
B) mean household income 
C) poverty level 
D) Gini coefficient 
A) median household income 
B) mean household income 
C) poverty level 
D) Gini coefficient

Question 5

Children raised in poverty are more likely to live in poverty as adults than are other children because low income is highly correlated with: I.higher high school dropout rates.
II.a greater risk of mental problems and behavioral disorders.
III.higher rates of illness and hospitalization.

Accepted Answer

A) I only 
B) II only 
C) III only 
D) I,II,and III 
A) I only 
B) II only 
C) III only 
D) I,II,and III

Question 6

Private health insurance is funded by:

Accepted Answer

A) the government. 
B) tax contributions to Medicare,which come primarily from the richest individuals in a population. 
C) extremely ill people,who pay very high premiums. 
D) members of a large pool of individuals,each paying a fixed premium to a private company that agrees to pay some portion of the medical expenses of the members. 
A) the government. 
B) tax contributions to Medicare,which come primarily from the richest individuals in a population. 
C) extremely ill people,who pay very high premiums. 
D) members of a large pool of individuals,each paying a fixed premium to a private company that agrees to pay some portion of the medical expenses of the members.

Sometimes healthy people drop their health insurance,leaving only sicker people to buy insurance.This phenomenon creates a situation known as:

Over the past two decades,the share of income going to the richest Americans has _____ than the share going to the poorest Americans.

People who are uninsured are likely NOT so because:

The _____ identifies the level of income at which half of the households in the population earn more and half of the population earns less.

Children raised in poverty are more likely to live in poverty as adults than are other children because low income is highly correlated with: I.higher high school dropout rates. II.a greater risk of mental problems and behavioral disorders. III.higher rates of illness and hospitalization.

Private health insurance is funded by:

First Principles

Economic Models: Trade-Offs and Trade

Consumer and Producer Surplus

Supply and Demand

Price Controls and Quotas: Meddling With Markets

Elasticity

Taxes

International Trade

Decision Making by Individuals and Firms

The Rational Consumer

Behind the Supply Curve: Inputs and Costs

Perfect Competition and the Supply Curve

Monopoly

Oligopoly

Monopolistic Competition and Product Differentiation

Externalities

Public Goods and Common Resources

Factor Markets and the Distribution of Income

Uncertainty, Risk, and Private Information

Graphs in Economics

Consumer Preferences and Consumer Choice

Filters

Exam 18: The Economics of the Welfare State

Sometimes healthy people drop their health insurance,leaving only sicker people to buy insurance.This phenomenon creates a situation known as:

Over the past two decades,the share of income going to the richest Americans has _____ than the share going to the poorest Americans.

People who are uninsured are likely NOT so because:

The _____ identifies the level of income at which half of the households in the population earn more and half of the population earns less.

Children raised in poverty are more likely to live in poverty as adults than are other children because low income is highly correlated with: I.higher high school dropout rates. II.a greater risk of mental problems and behavioral disorders. III.higher rates of illness and hospitalization.

Private health insurance is funded by:

First Principles

Economic Models: Trade-Offs and Trade

Consumer and Producer Surplus

Supply and Demand

Price Controls and Quotas: Meddling With Markets

Elasticity

Taxes

International Trade

Decision Making by Individuals and Firms

The Rational Consumer

Behind the Supply Curve: Inputs and Costs

Perfect Competition and the Supply Curve

Monopoly

Oligopoly

Monopolistic Competition and Product Differentiation

Externalities

Public Goods and Common Resources

Factor Markets and the Distribution of Income

Uncertainty, Risk, and Private Information

Graphs in Economics

Consumer Preferences and Consumer Choice

Filters