Question 1

In the United States in 2018, more than seventy percent of those who were not covered by health insurance

Accepted Answer

A)  are single and unemployed. 
B)  live in families in which at least one member has a job. 
C)  live in families in which all members are unemployed. 
D)  are retired from the workforce. 
A)  are single and unemployed. 
B)  live in families in which at least one member has a job. 
C)  live in families in which all members are unemployed. 
D)  are retired from the workforce. B

Question 2

Suppose you see a 2010 MINI Cooper Clubman advertised in the local newspaper for $4,500. If you knew the car was reliable, you would be willing to pay $6,000 for it. If you knew the car was unreliable, you would only be willing to pay $2,500 for it. Under what circumstances should you buy the car at the asking price?

Accepted Answer

Because of the lemons problem you should buy the car only if the advertisement is placed by a car dealer with a good reputation or by an individual you know well enough to trust, if you can cheaply determine that it isn't a lemon (for example, by an inspection), or if you'll receive a solid warranty against defects.

Question 3

Under the "Medicare for All" program that was proposed by several 2020 Democratic presidential candidates, a system would be established in which

Accepted Answer

A)  all private health insurance plans would be supplemented by a government health insurance plan. 
B)  the federal government would pay for all medical care. 
C)  everyone would be required to purchase health insurance from a newly formed government health insurance brokerage. 
D)  only people working for companies that employ fewer than 100 people would receive free health insurance from the government. 
A)  all private health insurance plans would be supplemented by a government health insurance plan. 
B)  the federal government would pay for all medical care. 
C)  everyone would be required to purchase health insurance from a newly formed government health insurance brokerage. 
D)  only people working for companies that employ fewer than 100 people would receive free health insurance from the government. B

Question 4

Government-provided health care is funded by tax revenues in which of the following countries?

Accepted Answer

A)  Canada 
B)  Japan 
C)  the United Kingdom 
D)  all of the above 
A)  Canada 
B)  Japan 
C)  the United Kingdom 
D)  all of the above

Question 5

In which of the following countries are copayments for as much as 30 percent of charges typically required as a part of the health care system?

Accepted Answer

A)  Canada 
B)  Japan 
C)  the United Kingdom 
D)  all of the above 
A)  Canada 
B)  Japan 
C)  the United Kingdom 
D)  all of the above

Question 6

Between 1981 and 2017, deaths from cancer have increased in the United States.

Accepted Answer

A) True 
 B)False

Question 7

In the United States in 2018, the percentage of people who received health insurance through their employer was about

Accepted Answer

A)  9%. 
B)  11%. 
C)  39%. 
D)  55%. 
A)  9%. 
B)  11%. 
C)  39%. 
D)  55%.

Question 8

The overall mortality rate in the United States has remained fairly constant for the past 36 years.

Accepted Answer

A) True 
 B)False

Question 9

In the United States in 2018, the percentage of all firms that offered health insurance as a fringe benefit to the workers was about

Accepted Answer

A)  11%. 
B)  39%. 
C)  57%. 
D)  96%. 
A)  11%. 
B)  39%. 
C)  57%. 
D)  96%.

Question 10

In the United States in 2018, the percentage of firms that employed more than 100 workers and offered health insurance as a fringe benefit to the workers was

Accepted Answer

A)  11%. 
B)  39%. 
C)  57%. 
D)  96%. 
A)  11%. 
B)  39%. 
C)  57%. 
D)  96%.

Question 11

In the United States from 1981 to 2017, deaths from all of the following declined substantially except

Accepted Answer

A)  cancer. 
B)  kidney disease. 
C)  heart attacks. 
D)  strokes. 
A)  cancer. 
B)  kidney disease. 
C)  heart attacks. 
D)  strokes.

Question 12

All of the following are part of the "regulation of health insurance" provision of the Affordable Care Act (ACA) except

Accepted Answer

A)  individuals with pre-existing medical conditions are able to acquire health insurance. 
B)  all policies must provide coverage for dependant children up to age 26. 
C)  lifetime dollar maximums on coverage are prohibited. 
D)  limits on the size of deductibles and on waiting periods before coverage takes effect have been eliminated. 
A)  individuals with pre-existing medical conditions are able to acquire health insurance. 
B)  all policies must provide coverage for dependant children up to age 26. 
C)  lifetime dollar maximums on coverage are prohibited. 
D)  limits on the size of deductibles and on waiting periods before coverage takes effect have been eliminated.

Question 13

Over the past 170 years in the United States, life expectancy

Accepted Answer

A)  has remained fairly constant. 
B)  has slightly declined. 
C)  has more than doubled. 
D)  increased up to the 1950s and then declined for the next 60 years. 
A)  has remained fairly constant. 
B)  has slightly declined. 
C)  has more than doubled. 
D)  increased up to the 1950s and then declined for the next 60 years.

Question 14

Some economists and policymakers who are opposed to the Medicare for All plan believe that this plan will ________ moral hazard problems by ________ deductibles and coinsurance payments.

Accepted Answer

A)  reduce; eliminating 
B)  increase; eliminating 
C)  reduce; increasing 
D)  increase; increasing 
A)  reduce; eliminating 
B)  increase; eliminating 
C)  reduce; increasing 
D)  increase; increasing

Question 15

Under the Affordable Care Act (ACA), insurance companies are required to participate in a high-risk pool that will cover individuals with pre-existing medical conditions.

Accepted Answer

A) True 
 B)False

Question 16

The largest government-run health care system in the world is in

Accepted Answer

A)  Canada. 
B)  Japan. 
C)  the United Kingdom. 
D)  the United States. 
A)  Canada. 
B)  Japan. 
C)  the United Kingdom. 
D)  the United States.

Question 17

Under the Affordable Care Act (ACA), residents who do not have health insurance will not be allowed to seek employment.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not an argument used by economists and policymakers who are in favor of moving toward a Medicare for All system of health care?

Accepted Answer

A)  The Medicare for All structure would ultimately increase competition in the health insurance industry, and this would reduce health care costs and increase economic efficiency. 
B)  A single-payer plan would reduce the paperwork caused by the current system. 
C)  Medicare for All would potentially reduce the administrative cost of coordinating a decentralized system. 
D)  The Medicare for All structure would save costs due to the bargaining power of the federal government. 
A)  The Medicare for All structure would ultimately increase competition in the health insurance industry, and this would reduce health care costs and increase economic efficiency. 
B)  A single-payer plan would reduce the paperwork caused by the current system. 
C)  Medicare for All would potentially reduce the administrative cost of coordinating a decentralized system. 
D)  The Medicare for All structure would save costs due to the bargaining power of the federal government.

Question 19

All of the following are part of the "state health insurance marketplaces" provision of the Affordable Care Act (ACA) except

Accepted Answer

A)  each state is required to establish an Affordable Insurance Exchange. 
B)  small businesses with fewer than 50 employees are exempt from being required to participate in the program. 
C)  low-income individuals are eligible for tax credits to offset the costs of buying health insurance. 
D)  the marketplaces offer health insurance policies that meet certain specified requirements. 
A)  each state is required to establish an Affordable Insurance Exchange. 
B)  small businesses with fewer than 50 employees are exempt from being required to participate in the program. 
C)  low-income individuals are eligible for tax credits to offset the costs of buying health insurance. 
D)  the marketplaces offer health insurance policies that meet certain specified requirements.

Question 20

Between 1981 and 2017, the overall mortality rate in the United States

Accepted Answer

A)  decreased by more than 25 percent. 
B)  slowly but steadily increased. 
C)  remained fairly constant. 
D)  was similar to the average rate in most low-income countries. 
A)  decreased by more than 25 percent. 
B)  slowly but steadily increased. 
C)  remained fairly constant. 
D)  was similar to the average rate in most low-income countries.

In the United States in 2018, more than seventy percent of those who were not covered by health insurance

Under the "Medicare for All" program that was proposed by several 2020 Democratic presidential candidates, a system would be established in which

Government-provided health care is funded by tax revenues in which of the following countries?

In which of the following countries are copayments for as much as 30 percent of charges typically required as a part of the health care system?

Between 1981 and 2017, deaths from cancer have increased in the United States.

In the United States in 2018, the percentage of people who received health insurance through their employer was about

The overall mortality rate in the United States has remained fairly constant for the past 36 years.

In the United States in 2018, the percentage of all firms that offered health insurance as a fringe benefit to the workers was about

In the United States in 2018, the percentage of firms that employed more than 100 workers and offered health insurance as a fringe benefit to the workers was

In the United States from 1981 to 2017, deaths from all of the following declined substantially except

All of the following are part of the "regulation of health insurance" provision of the Affordable Care Act (ACA) except

Over the past 170 years in the United States, life expectancy

Some economists and policymakers who are opposed to the Medicare for All plan believe that this plan will moral hazard problems by deductibles and coinsurance payments.

Under the Affordable Care Act (ACA), insurance companies are required to participate in a high-risk pool that will cover individuals with pre-existing medical conditions.

The largest government-run health care system in the world is in

Under the Affordable Care Act (ACA), residents who do not have health insurance will not be allowed to seek employment.

Which of the following is not an argument used by economists and policymakers who are in favor of moving toward a Medicare for All system of health care?

All of the following are part of the "state health insurance marketplaces" provision of the Affordable Care Act (ACA) except

Between 1981 and 2017, the overall mortality rate in the United States

Economics: Foundations and Models

Trade-Offs, Comparative Advantage, and the Market System

Where Prices Come From: The Interaction of Demand and Supply

Economic Efficiency, Government Price Setting, and Taxes

Externalities, Environmental Policy, and Public Goods

Elasticity: The Responsiveness of Demand and Supply

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

Consumer Choice and Behavioral Economics

Technology, Production, and Costs

Firms in Perfectly Competitive Markets

Monopolistic Competition: The Competitive Model in a More Realistic Setting

Oligopoly: Firms in Less Competitive Markets

Monopoly and Antitrust Policy

The Markets for Labor and Other Factors of Production

Public Choice, Taxes, and the Distribution of Income

Filters

Exam 7: The Economics of Health Care

In the United States in 2018, more than seventy percent of those who were not covered by health insurance

Under the "Medicare for All" program that was proposed by several 2020 Democratic presidential candidates, a system would be established in which

Government-provided health care is funded by tax revenues in which of the following countries?

In which of the following countries are copayments for as much as 30 percent of charges typically required as a part of the health care system?

Between 1981 and 2017, deaths from cancer have increased in the United States.

In the United States in 2018, the percentage of people who received health insurance through their employer was about

The overall mortality rate in the United States has remained fairly constant for the past 36 years.

In the United States in 2018, the percentage of all firms that offered health insurance as a fringe benefit to the workers was about

In the United States in 2018, the percentage of firms that employed more than 100 workers and offered health insurance as a fringe benefit to the workers was

In the United States from 1981 to 2017, deaths from all of the following declined substantially except

All of the following are part of the "regulation of health insurance" provision of the Affordable Care Act (ACA) except

Over the past 170 years in the United States, life expectancy

Some economists and policymakers who are opposed to the Medicare for All plan believe that this plan will ________ moral hazard problems by ________ deductibles and coinsurance payments.

Under the Affordable Care Act (ACA), insurance companies are required to participate in a high-risk pool that will cover individuals with pre-existing medical conditions.

The largest government-run health care system in the world is in

Under the Affordable Care Act (ACA), residents who do not have health insurance will not be allowed to seek employment.

Which of the following is not an argument used by economists and policymakers who are in favor of moving toward a Medicare for All system of health care?

All of the following are part of the "state health insurance marketplaces" provision of the Affordable Care Act (ACA) except

Between 1981 and 2017, the overall mortality rate in the United States

Economics: Foundations and Models

Trade-Offs, Comparative Advantage, and the Market System

Where Prices Come From: The Interaction of Demand and Supply

Economic Efficiency, Government Price Setting, and Taxes

Externalities, Environmental Policy, and Public Goods

Elasticity: The Responsiveness of Demand and Supply

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

Consumer Choice and Behavioral Economics

Technology, Production, and Costs

Firms in Perfectly Competitive Markets

Monopolistic Competition: The Competitive Model in a More Realistic Setting

Oligopoly: Firms in Less Competitive Markets

Monopoly and Antitrust Policy

The Markets for Labor and Other Factors of Production

Public Choice, Taxes, and the Distribution of Income

Filters

Some economists and policymakers who are opposed to the Medicare for All plan believe that this plan will moral hazard problems by deductibles and coinsurance payments.