Exam 7: The Economics of Health Care

The United Kingdom has a health care system under which the government owns most of the hospitals and employs most of the doctors.

Figure 7-2 Figure 7-2 represents the market for vaccinations. Vaccinations are considered a benefit to society, and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations. -Refer to Figure 7-2. At the efficient equilibrium

Identify and explain 4 of the difficulties in making cross-country comparisons in health care outcomes.

________ account(s) for between 1 and 4 percent of health care costs in the United States.

One reason why adverse selection problems arise in health insurance markets is that

Why might a young, healthy person choose not to buy health insurance?

What is the term that describes a situation in which one party to an economic transaction has less information than the other party?

Growth in labor productivity in health care has been ________ the growth in labor productivity in the economy as a whole.

Of the following high-income countries, which has the lowest mortality ratio for cancer?

Figure 7-2 Figure 7-2 represents the market for vaccinations. Vaccinations are considered a benefit to society, and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations. -Refer to Figure 7-2. The market equilibrium price is

All of the following are part of the "taxes" provision of the Patient Protection and Affordable Care Act (ACA) except

"Cost disease" refers to the tendency for high productivity in the service sector to lead to lower costs in those industries.

Based on its current rate of growth, health care spending as a percentage of GDP through Medicare, Medicaid, and other U.S. government programs is expected to

What is adverse selection?

The Pre-Existing Condition Insurance Plan is a federally administered part of the Affordable Care Act, and is designed for people with pre-existing medical conditions to obtain insurance. By offering health insurance to all U.S. citizens with pre-existing medical conditions, the Pre-Existing Condition Insurance Plan eliminates ________ for both the insurer and the insured, and eliminates ________ for the issuer of the insurance policy.

Of the following high-income countries, which has the highest mortality ratio for cancer?

When people who buy insurance change their behavior after the purchase because they are protected from loss by the insurance, the insurance market is said to face the problem of

Figure 7-1 Figure 7-1 represents the market for vaccinations. Vaccinations are considered a benefit to society, and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations. -Refer to Figure 7-1. The market equilibrium quantity is ________ thousand vaccinations.

In the United States, total health care spending per person has been ________, and out-of-pocket spending on health care per person has been ________.

The Congressional Budget Office estimates that ________ of the increase in federal spending on Medicare and Medicaid over the next 75 years will be due to increases in the cost of providing health care.