Exam 5: The Economics of Health Care

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

In the United States from 1981 to 2011,deaths from ________ increased largely due to the effects of increasing obesity.

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

Life expectancy at birth in the United States has more than doubled since 1850.

In a market with positive externalities,the market equilibrium price will be greater than the efficient equilibrium price.

Explain why the rates of death due to kidney disease and diabetes has slightly increased in the United States since 1981.

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

Federal and state governments in the United States pay for ________ of health care spending.

A doctor pursuing his own interests rather than the interests of his patients is an example of the principal-agent problem.

The rising cost of malpractice insurance is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States.

Health insurance plans which typically reimburse doctors mainly by paying a flat fee per patient are known as

Which of the following is not part of the "regulation of health insurance" provision of the Patient Protection and Affordable Care Act (ACA)?

Figure 5-2 Figure 5-2 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 5-2.At the efficient equilibrium

Figure 5-4 Figure 5-4 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services. -Refer to Figure 5-4.The efficient price of medical services is

Consider a used car market in which half the cars are good and half are bad (lemons).Suppose the average price of a good car is $9,000 and the average price of a lemon is $3,000.If rational buyers are willing to pay $6,000 for a used car,then sellers will agree to sell mostly the lemons at this price.What is the term used to describe this situation?

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

Figure 5-2 Figure 5-2 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 5-2.At the market equilibrium,the deadweight loss is equal to

Figure 5-5 Figure 5-5 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services. -Refer to Figure 5-5.With insurance and a third-party payer system,the equilibrium quantity of medical services is

Most doctors and hospitals operate as private businesses in all of the following countries except

In what ways do economists and policymakers who believe that the federal government should have a larger role in the health care system criticize the Patient Protection and Affordable Care Act (ACA)?