Question 1

In the United States in 2018, the percentage of people who received health insurance through a government program was about

Accepted Answer

A)  11%. 
B)  16%. 
C)  39%. 
D)  55%. 
A)  11%. 
B)  16%. 
C)  39%. 
D)  55%.

Question 2

By 2019, spending on federal health care programs such as Medicare and Medicaid had grown to 5.4 percent of GDP.

Accepted Answer

A) True 
 B)False

Question 3

Under the Medicare for All plan,

Accepted Answer

A)  people would not be charged an insurance premium but would have to pay deductibles. 
B)  people would be charged an insurance premium and would have to pay deductibles. 
C)  people would be charged an insurance premium but would not have to pay deductibles. 
D)  people would not be charged an insurance premium and would not have to pay deductibles. 
A)  people would not be charged an insurance premium but would have to pay deductibles. 
B)  people would be charged an insurance premium and would have to pay deductibles. 
C)  people would be charged an insurance premium but would not have to pay deductibles. 
D)  people would not be charged an insurance premium and would not have to pay deductibles.

Question 4

In the United States in 2018, the percentage of people without any form of health insurance was about

Accepted Answer

A)  9%. 
B)  29%. 
C)  64%. 
D)  83%. 
A)  9%. 
B)  29%. 
C)  64%. 
D)  83%.

Question 5

In the United States in 2018, over 90 percent of people without health insurance were below the age of 35.

Accepted Answer

A) True 
 B)False

Question 6

In 2019, health care's share of gross domestic product in the United States

Accepted Answer

A)  had returned to its 1995 level. 
B)  had declined to only 6.5 percent. 
C)  was about three times as high as it was in 1965. 
D)  reached a level of 75 percent. 
A)  had returned to its 1995 level. 
B)  had declined to only 6.5 percent. 
C)  was about three times as high as it was in 1965. 
D)  reached a level of 75 percent.

Question 7

In 2022, a tax is scheduled to be imposed on employer-provided health insurance plans known as 'Cadillac plans'.

Accepted Answer

A) True 
 B)False

Question 8

Identify the 6 main provisions of the Affordable Care Act (ACA).

Accepted Answer

1. Individual mandate requires that ever

Question 9

In the United States in 2018, the percentage of people that directly purchased an individual or family health insurance policy from an insurance company was about

Accepted Answer

A)  8%. 
B)  11%. 
C)  39%. 
D)  55%. 
A)  8%. 
B)  11%. 
C)  39%. 
D)  55%.

Question 10

In the United States in 2018, of those companies that offered health care to those workers, ________ of employees accepted the coverage.

Accepted Answer

A)  about 10 percent 
B)  roughly 36 percent 
C)  fewer than two-thirds 
D)  almost 98 percent 
A)  about 10 percent 
B)  roughly 36 percent 
C)  fewer than two-thirds 
D)  almost 98 percent

Question 11

In the United States from 1981 to 2017, deaths from diabetes increased largely due to the effects of

Accepted Answer

A)  foreign-produced insulin. 
B)  stress in the workplace. 
C)  a larger immigrant population. 
D)  increasing obesity. 
A)  foreign-produced insulin. 
B)  stress in the workplace. 
C)  a larger immigrant population. 
D)  increasing obesity.

Question 12

Which provision of the Affordable Care Act (ACA) was repealed by Congress in 2017?

Accepted Answer

A)  the individual mandate 
B)  the state health insurance marketplace 
C)  the employer mandate 
D)  the regulation of health insurance 
A)  the individual mandate 
B)  the state health insurance marketplace 
C)  the employer mandate 
D)  the regulation of health insurance

Question 13

Which of the following is a part of the "employer mandate" provision of the Affordable Care Act (ACA)?

Accepted Answer

A)  Every firm with more than 3 full-time employees must offer health insurance to its employees and must automatically enroll them in the plan. 
B)  Small businesses with fewer than 50 employees are exempt from being required to participate in the program. 
C)  Firms with 50 or more full-time employees must offer health insurance or pay a fee to the federal government for every employee who receives a tax credit from the federal government for obtaining health insurance through a health insurance marketplace. 
D)  Every resident of the United States must have health insurance that meets certain basic requirements. 
A)  Every firm with more than 3 full-time employees must offer health insurance to its employees and must automatically enroll them in the plan. 
B)  Small businesses with fewer than 50 employees are exempt from being required to participate in the program. 
C)  Firms with 50 or more full-time employees must offer health insurance or pay a fee to the federal government for every employee who receives a tax credit from the federal government for obtaining health insurance through a health insurance marketplace. 
D)  Every resident of the United States must have health insurance that meets certain basic requirements.

Question 14

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. At the market equilibrium, the deadweight loss is equal to

Accepted Answer

A)  $0. 
B)  $250,000. 
C)  $500,000. 
D)  $1,000,000. 
A)  $0. 
B)  $250,000. 
C)  $500,000. 
D)  $1,000,000.

Question 15

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

Accepted Answer

A)  workers earning more than $200,000 pay higher Medicare payroll taxes. 
B)  workers earning more than $200,000 pay a 3.8% tax on their investment income. 
C)  beginning in 2022 all taxes on employer-provided health insurance plans will be reduced or eliminated. 
D)  All of the above are a part of the "taxes" provision of the Affordable Care Act. 
A)  workers earning more than $200,000 pay higher Medicare payroll taxes. 
B)  workers earning more than $200,000 pay a 3.8% tax on their investment income. 
C)  beginning in 2022 all taxes on employer-provided health insurance plans will be reduced or eliminated. 
D)  All of the above are a part of the "taxes" provision of the Affordable Care Act.

In the United States in 2018, the percentage of people who received health insurance through a government program was about

By 2019, spending on federal health care programs such as Medicare and Medicaid had grown to 5.4 percent of GDP.

Under the Medicare for All plan,

In the United States in 2018, the percentage of people without any form of health insurance was about

In the United States in 2018, over 90 percent of people without health insurance were below the age of 35.

In 2019, health care's share of gross domestic product in the United States

In 2022, a tax is scheduled to be imposed on employer-provided health insurance plans known as 'Cadillac plans'.

Identify the 6 main provisions of the Affordable Care Act (ACA).

In the United States in 2018, the percentage of people that directly purchased an individual or family health insurance policy from an insurance company was about

In the United States in 2018, of those companies that offered health care to those workers, ________ of employees accepted the coverage.

In the United States from 1981 to 2017, deaths from diabetes increased largely due to the effects of

Which provision of the Affordable Care Act (ACA) was repealed by Congress in 2017?

Which of the following is a part of the "employer mandate" provision of the Affordable Care Act (ACA)?

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. At the market equilibrium, the deadweight loss is equal to

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

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

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Exam 7: The Economics of Health Care

In the United States in 2018, the percentage of people who received health insurance through a government program was about

By 2019, spending on federal health care programs such as Medicare and Medicaid had grown to 5.4 percent of GDP.

Under the Medicare for All plan,

In the United States in 2018, the percentage of people without any form of health insurance was about

In the United States in 2018, over 90 percent of people without health insurance were below the age of 35.

In 2019, health care's share of gross domestic product in the United States

In 2022, a tax is scheduled to be imposed on employer-provided health insurance plans known as 'Cadillac plans'.

Identify the 6 main provisions of the Affordable Care Act (ACA).

In the United States in 2018, the percentage of people that directly purchased an individual or family health insurance policy from an insurance company was about

In the United States in 2018, of those companies that offered health care to those workers, ________ of employees accepted the coverage.

In the United States from 1981 to 2017, deaths from diabetes increased largely due to the effects of

Which provision of the Affordable Care Act (ACA) was repealed by Congress in 2017?

Which of the following is a part of the "employer mandate" provision of the Affordable Care Act (ACA)?

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. At the market equilibrium, the deadweight loss is equal to

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

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