Exam 5: The Economics of Health Care

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

What are the main sources of health insurance in the United States?

Health care is generally considered a normal good.Briefly explain what you would expect to see happen to spending on health care over time,with health care being considered as a normal good.

Vaccinations tend to result in a positive externality.

As a percentage of GDP,health care spending on Medicare and Medicaid is expected to double over the next 40 years unless health care costs begin to grow at a slower rate.

The study of the problems due to asymmetric information was begun when economists analyzed which type of market?

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.With insurance and a third-party payer system,what price do doctors receive for medical services?

In 1960,out-of-pocket spending on health care in the United States was

In the 1973 movie Save the Tiger,Jack Lemmon plays Harry Stoner,the CEO of a clothing manufacturer whose business has fallen on hard times.At one point in the movie,Stoner convinces his partner to hire someone to burn one of their buildings to collect on their insurance policy.What term refers to the information problem that led the insurance company to sell a policy for this building to Stoner and his partner?

If a state requires all drivers to purchase auto insurance,insurance companies still face the problem of

Which of the following factors help to explain the sustained increases in health care spending in the United States,and which do not: a.the additional paperwork,duplication,and waste generated in the U.S.health care system compared to systems in other countries b.the increasing costs of malpractice insurance and malpractice lawsuit settlements c.the number of uninsured patients receiving hospital treatment that could have been preformed at a lower cost in doctors' offices d.the slow growth in labor productivity in health care compared to that in the economy as a whole e.the aging population f.increases in the cost of providing health care

If consumers paid the full price of medical services instead of using health insurance and third-party payers to cover part of the cost,the quantity of medical services provided would decrease.

The health care system in Japan is referred to as ________,under which every resident of Japan is required to enroll in either a private or the government-provided health insurance program.

Some economists have proposed making the tax treatment of employer-provided health insurance the same as the tax treatment of individually purchased health insurance and out-of-pocket health care spending.Such changes would make it more likely that

Typically,the ________ in a country,the higher the level of spending per person on health care.

In the United States in 2012,a majority of people received health care through

In the United States in 2012,of the firms that employed more than 200 workers that offer health insurance to workers,about ________ of employees did not accept the coverage.

Changes in the health of the average person are relatively unimportant as an indicator of changes in the standard of living.

In a market with positive externalities,the market equilibrium quantity will be less than the efficient equilibrium quantity.

The provision of the Patient Protection and Affordable Care Act (ACA)which states that,with limited exceptions,every resident of the United States must have health insurance that meets certain basic requirements is the ________ provision.