Question 1

The rise of economic science became possible only after the

Accepted Answer

A)  invention of the science of epidemiology. 
B)  plague was conquered. 
C)  population growth rate reached the level when population doubled every 7,000 years. 
D)  investment and trade became possible. 
E)  invention of money, as a standard medium of exchange. 
A)  invention of the science of epidemiology. 
B)  plague was conquered. 
C)  population growth rate reached the level when population doubled every 7,000 years. 
D)  investment and trade became possible. 
E)  invention of money, as a standard medium of exchange. E

Question 2

Development of modern medicine has been made possible due to the exclusive influence of the following two crucial factors: development of effective medical technology and financial institutions to support it.

Accepted Answer

A) True 
 B)False  False

Question 3

According to the text, medical care expenditures were slowly increasing from the Agricultural Age to the Industrial Age. At the end of the Agricultural Age, almost all expenditures on health care were driven by the 2% of the population that was wealthy. Greater equality of income and wealth distribution in the Industrial Age contributed to a faster increase in medical expenditures from that point on.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following statements about the demographic transition is true?

Accepted Answer

A)  Demographic transition is a characteristic of the Industrial and Informational ages only. 
B)  Demographic transition cycle happens about every 50 years. 
C)  Demographic transition is a characteristic of the Information Age only, and it happens only once. 
D)  The essence of the demographic transition is that economic development eventually changes the historical balance between death and birth rates significantly, leading to a rapid and dramatic population growth. 
E)  The essence of the demographic transition is that economic development eventually changes the historical balance between death and birth rates significantly, leading to a rapid and dramatic population decline. 
A)  Demographic transition is a characteristic of the Industrial and Informational ages only. 
B)  Demographic transition cycle happens about every 50 years. 
C)  Demographic transition is a characteristic of the Information Age only, and it happens only once. 
D)  The essence of the demographic transition is that economic development eventually changes the historical balance between death and birth rates significantly, leading to a rapid and dramatic population growth. 
E)  The essence of the demographic transition is that economic development eventually changes the historical balance between death and birth rates significantly, leading to a rapid and dramatic population decline.

Question 5

What was the essential condition necessary for the early societies to start to grow?

Accepted Answer

It took thousands of years before early

Question 6

At which point in history did spending on food not account for almost 100% of workers' budgets anymore?

Accepted Answer

A)  Stone Age 
B)  Agricultural Age 
C)  Industrial Age 
D)  Information Age 
E)  The exact time point cannot be easily established by historians. 
A)  Stone Age 
B)  Agricultural Age 
C)  Industrial Age 
D)  Information Age 
E)  The exact time point cannot be easily established by historians.

Question 7

The law of diminishing marginal returns in The Malthusian Hypothesis means that the productivity of additional workers falls as the population increases. The cycle of technology improvements leading to increases in productivity which yield greater food supply ultimately results in the same level of subsistence living for agricultural workers as existed before the technology improvement.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements about the Agricultural Age is true?

Accepted Answer

A)  The transition from Stone Age to Agricultural Age was characterized by changes in lifestyle from hunter-gatherer to farmers and resulted in increased life expectancy as the social structures of ancient civilizations such as the Sumerians, Greeks, and Romans provided stability and steady farm production. 
B)  The Agricultural Age is characterized by great income inequality and explosive population growth. 
C)  During the Agricultural Age income inequality and social stratification meant that farmers worked longer (compared to the Stone Age) hours to produce enough food to support themselves. 
D)  Demographic Transition during the Agricultural Age means that high infant and child mortality is usually accompanied by high birth rates and population increases occur. 
E)  The key theoretical contribution of The Malthusian Hypothesis is that droughts and war cause the decreases in farm productivity. This leads to increased mortality from starvation and naturally keeps the population from growing faster than the pace of technological progress. 
A)  The transition from Stone Age to Agricultural Age was characterized by changes in lifestyle from hunter-gatherer to farmers and resulted in increased life expectancy as the social structures of ancient civilizations such as the Sumerians, Greeks, and Romans provided stability and steady farm production. 
B)  The Agricultural Age is characterized by great income inequality and explosive population growth. 
C)  During the Agricultural Age income inequality and social stratification meant that farmers worked longer (compared to the Stone Age) hours to produce enough food to support themselves. 
D)  Demographic Transition during the Agricultural Age means that high infant and child mortality is usually accompanied by high birth rates and population increases occur. 
E)  The key theoretical contribution of The Malthusian Hypothesis is that droughts and war cause the decreases in farm productivity. This leads to increased mortality from starvation and naturally keeps the population from growing faster than the pace of technological progress.

Question 9

What were the crucial assumptions in the Malthusian hypothesis that only with time were proven to be wrong?

Accepted Answer

The major prediction of Thomas Malthus w

Question 10

Which of the following statements about the Information Age is true?

Accepted Answer

A)  As the world civilizations were sequentially moving through the Stone, Agricultural, Industrial and Informational ages, the average life expectancy has been slowly but steadily increasing. 
B)  Improvements in the quality of goods and services in the informational age are not easily captured by the common measures of nations' economic output, such as GDP. 
C)  Modern economists predict that somewhere around the year 2100 most countries in the word will attain the status of a developed country, with population growth rates in such countries stabilizing around 6%. 
D)  During the Information Age, the Malthusian Hypothesis still dominates thinking on population trends. 
E)  The examples of sharp declines in life expectancy and negative population growth rates can now be found only in the history of civilizations, not in the Information Age any more. 
A)  As the world civilizations were sequentially moving through the Stone, Agricultural, Industrial and Informational ages, the average life expectancy has been slowly but steadily increasing. 
B)  Improvements in the quality of goods and services in the informational age are not easily captured by the common measures of nations' economic output, such as GDP. 
C)  Modern economists predict that somewhere around the year 2100 most countries in the word will attain the status of a developed country, with population growth rates in such countries stabilizing around 6%. 
D)  During the Information Age, the Malthusian Hypothesis still dominates thinking on population trends. 
E)  The examples of sharp declines in life expectancy and negative population growth rates can now be found only in the history of civilizations, not in the Information Age any more.

Question 11

During the Agricultural Age many communities were highly susceptible to catastrophic losses of life from drought, pestilence and disease.

Accepted Answer

A) True 
 B)False

Question 12

Evidence from the British medical service shows that life expectancy may vary not only between income classes, but even within the same income class, as it seems to additionally depend on rank as well. If all citizens have the same medical services available to them, could you provide some reasons why such disparities might exist. Use the concept of the production function of health to explain.

Accepted Answer

Medical expenditures are only one out of

Question 13

Studies show that during the 20th century the estimated value of life increased

Accepted Answer

A)  only marginally. 
B)  by about 30%. 
C)  twofold. 
D)  significantly, quadrupling. 
E)  tremendously, by the magnitude of more than 3,000%. 
A)  only marginally. 
B)  by about 30%. 
C)  twofold. 
D)  significantly, quadrupling. 
E)  tremendously, by the magnitude of more than 3,000%.

Question 14

The Malthusian hypothesis

Accepted Answer

A)  assumes that land resources change over time. 
B)  assumes that technology remains fixed. 
C)  assumes that technology gains outpace population increases over the long run. 
D)  proposes that population growth ultimately leads to declining labor productivity because land is a limited resource, so that increases in population result in less food for each person and more deaths. 
E)  argues that population growth leads to increasing labor productivity because land is a fixed resource. 
A)  assumes that land resources change over time. 
B)  assumes that technology remains fixed. 
C)  assumes that technology gains outpace population increases over the long run. 
D)  proposes that population growth ultimately leads to declining labor productivity because land is a limited resource, so that increases in population result in less food for each person and more deaths. 
E)  argues that population growth leads to increasing labor productivity because land is a fixed resource.

Question 15

What does the statement Life is a "luxury good" mean in economic terms?

Accepted Answer

A)  It was estimated that the value of life exhibits the income elasticity substantially greater than 1. 
B)  It was estimated that the value of life exhibits the income elasticity substantially smaller than 1. 
C)  It was estimated that the value of life exhibits the price elasticity substantially greater than 1. 
D)  It was estimated that the value of life exhibits the price elasticity substantially smaller than 1. 
E)  Only wealthy people can afford to buy significantly "more life" through investing more in medical care. 
A)  It was estimated that the value of life exhibits the income elasticity substantially greater than 1. 
B)  It was estimated that the value of life exhibits the income elasticity substantially smaller than 1. 
C)  It was estimated that the value of life exhibits the price elasticity substantially greater than 1. 
D)  It was estimated that the value of life exhibits the price elasticity substantially smaller than 1. 
E)  Only wealthy people can afford to buy significantly "more life" through investing more in medical care.

Question 16

In which historical period did average life expectancy see the greatest increase?

Accepted Answer

A)  Stone Age 
B)  Agricultural Age 
C)  Industrial Age 
D)  Information Age 
E)  The exact time point cannot be easily established by historians. 
A)  Stone Age 
B)  Agricultural Age 
C)  Industrial Age 
D)  Information Age 
E)  The exact time point cannot be easily established by historians.

Question 17

In the U.S., the key determinant of population growth during recent decades has been the increasing excess of birth rates over death rates.

Accepted Answer

A) True 
 B)False

Question 18

Starting with the late 17th century, the rise of economic science was associated with all of the following accomplishments, except

Accepted Answer

A)  the first estimate of a nation's GDP (in England). 
B)  the first study of death statistics (in London), giving rise to the science of epidemiology. 
C)  publishing of the first book that offered economic analysis The Wealth of Nations by Adam Smith. 
D)  the discovery of the demographic transition cycle. 
E)  one of the first attempts at economic modeling and prediction by Thomas Malthus. 
A)  the first estimate of a nation's GDP (in England). 
B)  the first study of death statistics (in London), giving rise to the science of epidemiology. 
C)  publishing of the first book that offered economic analysis The Wealth of Nations by Adam Smith. 
D)  the discovery of the demographic transition cycle. 
E)  one of the first attempts at economic modeling and prediction by Thomas Malthus.

Question 19

The Stone Age is characterized by equality of income, low medical expenditures and population growth rates which doubled every 10,000 years.

Accepted Answer

A) True 
 B)False

Question 20

Use marginal analysis to explain why spending more to achieve a relatively small gain in life expectancy does make sense.

Accepted Answer

The text cites the work of Costa and Kah

The rise of economic science became possible only after the

Development of modern medicine has been made possible due to the exclusive influence of the following two crucial factors: development of effective medical technology and financial institutions to support it.

Which of the following statements about the demographic transition is true?

What was the essential condition necessary for the early societies to start to grow?

At which point in history did spending on food not account for almost 100% of workers' budgets anymore?

Which of the following statements about the Agricultural Age is true?

What were the crucial assumptions in the Malthusian hypothesis that only with time were proven to be wrong?

Which of the following statements about the Information Age is true?

During the Agricultural Age many communities were highly susceptible to catastrophic losses of life from drought, pestilence and disease.

Studies show that during the 20^th century the estimated value of life increased

The Malthusian hypothesis

What does the statement Life is a "luxury good" mean in economic terms?

In which historical period did average life expectancy see the greatest increase?

In the U.S., the key determinant of population growth during recent decades has been the increasing excess of birth rates over death rates.

Starting with the late 17^th century, the rise of economic science was associated with all of the following accomplishments, except

The Stone Age is characterized by equality of income, low medical expenditures and population growth rates which doubled every 10,000 years.

Use marginal analysis to explain why spending more to achieve a relatively small gain in life expectancy does make sense.

Choices: Money, Medicine, and Health

Demand and Supply

Cost-Benefit and Cost-Effectiveness Analysis

Health Insurance: Financing Medical Care

Insurance Contracts and Managed Care

Physicians

Medical Education, Organization, and Business Practices

Hospitals

Management and Regulations of Hospital Costs

Long-Term Care

Pharmaceuticals

Financing and Ownership of Health Care Providers

Macroeconomics and Medical Care

The Role of Government and Public Goods

International Comparisons of Health and Health Expenditures

Economic Evaluation of Health Policy: The Patient Protection and Affordable Care Act of 2010

Value for Money in the Future of Health Care

Filters

Exam 15: History, Demography, and the Growth of Modern Medicine

The rise of economic science became possible only after the

Development of modern medicine has been made possible due to the exclusive influence of the following two crucial factors: development of effective medical technology and financial institutions to support it.

Which of the following statements about the demographic transition is true?

What was the essential condition necessary for the early societies to start to grow?

At which point in history did spending on food not account for almost 100% of workers' budgets anymore?

Which of the following statements about the Agricultural Age is true?

What were the crucial assumptions in the Malthusian hypothesis that only with time were proven to be wrong?

Which of the following statements about the Information Age is true?

During the Agricultural Age many communities were highly susceptible to catastrophic losses of life from drought, pestilence and disease.

Studies show that during the 20th century the estimated value of life increased

The Malthusian hypothesis

What does the statement Life is a "luxury good" mean in economic terms?

In which historical period did average life expectancy see the greatest increase?

In the U.S., the key determinant of population growth during recent decades has been the increasing excess of birth rates over death rates.

Starting with the late 17th century, the rise of economic science was associated with all of the following accomplishments, except

The Stone Age is characterized by equality of income, low medical expenditures and population growth rates which doubled every 10,000 years.

Use marginal analysis to explain why spending more to achieve a relatively small gain in life expectancy does make sense.

Choices: Money, Medicine, and Health

Demand and Supply

Cost-Benefit and Cost-Effectiveness Analysis

Health Insurance: Financing Medical Care

Insurance Contracts and Managed Care

Physicians

Medical Education, Organization, and Business Practices

Hospitals

Management and Regulations of Hospital Costs

Long-Term Care

Pharmaceuticals

Financing and Ownership of Health Care Providers

Macroeconomics and Medical Care

The Role of Government and Public Goods

International Comparisons of Health and Health Expenditures

Economic Evaluation of Health Policy: The Patient Protection and Affordable Care Act of 2010

Value for Money in the Future of Health Care

Filters

Studies show that during the 20^th century the estimated value of life increased

Starting with the late 17^th century, the rise of economic science was associated with all of the following accomplishments, except