Exam 7: The Economics of Health Care

In the United States in 2014, of those companies employing more than 200 workers that offer health care to those workers, ________ of employees accept the coverage.

Health insurance companies impose deductibles on policies and co-payments on claims to reduce the problem of adverse selection.

In the United States in 2014, the percentage of firms that employed between 3 and 199 workers and offered health insurance as a fringe benefit to the workers was about

Which of the following individuals is most likely to purchase a life insurance policy that pays out an annual income beginning at a certain age until the individual's death?

If a fire insurance company requires firms buying fire insurance to install automatic sprinkler systems, the insurance company is trying to reduce

In the United States from 1981 to 2013, deaths from diabetes increased largely due to the effects of

How do current tax laws in the United States favor employer-based health care insurance?

The Pre-Existing Condition Insurance Plan is a federally administered part of the Affordable Care Act, and is designed for people with pre-existing medical conditions to obtain insurance.By offering health insurance to all U.S.citizens with pre-existing medical conditions, the Pre-Existing Condition Insurance Plan eliminates ________ for both the insurer and the insured, and eliminates ________ for the issuer of the insurance policy.

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 increase.

Figure 7-1 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.The market equilibrium quantity is ________ thousand vaccinations.

What is the principal-agent problem?

In the United States, private health insurance companies

Figure 7-1 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.The market equilibrium price is

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

What is adverse selection?

In the United States, consumers usually pay ________ than the true cost of medical treatment because of ________.

Those who favor changes in the market for health care that would make it more like the markets for other goods and services are generally in favor of universal health care coverage.

How can changes over time of the average height of the people in a country help to indicate the standard of living in a country?

In the United States in 2014, about seventy percent of those who were not covered by health insurance

Canada has a single-payer health care system in which the government provides national health insurance to all Canadian residents.