Exam 5: The Economics of Health Care

Which of the following is not part of the "state health exchanges" provision of the Patient Protection and Affordable Care Act (PPACA)?

In the United States,the bulk of health care spending is paid by health insurance companies.Such a system is also called ________ where consumers of health care pay a nominal fee and the rest are paid by the health insurance provider.

Over the past 45 years in the United States,________ amounts of production have been devoted to health care,and consumers have been paying ________ of the cost.

The Congressional Budget Office estimates that the Patient Protection and Affordable Care Act (PPACA)will increase government spending

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

The rising cost of uninsured patients receiving treatment at hospital emergency rooms is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States.

Doctors have ________ incentive to control their costs when consumers ________ for a visit to the doctor's office.

Briefly describe the types of health care systems in Canada,Japan,and the United Kingdom.

The individual mandate provision of the PPACA requires

Health insurance markets have a problem with insuring people who are "poor health risks" while many people who are "good health risks" do not buy insurance.This problem is an example of

By the year 2010,health care spending on Medicare,Medicaid,and other U.S.government programs as a percentage of GDP had reached a level of

Two key consequences of asymmetric information are adverse selection and moral hazard.Define each concept,provide one example of each and explain how the two concepts differ.

How can increases in a country's total income improve health?

Some economists and policymakers who are in favor of government-provided health care believe that providing health care will

The principal-agent problem is a problem

In ________,health care spending per person based on income per person is significantly higher than the average for most other countries.

Pricing insurance policies is made difficult because buyers have more information than sellers.This difficulty is an example of

The situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction is known as adverse selection.

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,they ________ of health care services than they would if they paid a price that better represented the true cost of providing the service.

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