Exam 5: The Economics of Health Care

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

The health care system in Canada is referred to as ________,and is a system in which the government provides national health insurance to all Canadian residents.

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

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

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

In the United States,health care spending per person is ________ the average for most other countries,even taking into account the effects of higher income per person.

Of the following high-income countries,which has the highest obesity rate?

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

The Congressional Budget Office estimates that ________ account(s)for less than 1 percent of health care costs in the United States.

Figure 5-1 Figure 5-1 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 5-1.At the market equilibrium,the deadweight loss is equal to

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)?

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

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

Of the following high-income countries,which has the highest male life expectancy at age 65?

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

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

Figure 5-3 Figure 5-3 shows the effect of a positive externality on the market for vaccinations. -Refer to Figure 5-3.On the above graph,identify the market equilibrium price and quantity,the efficient equilibrium price and quantity,and the value of the deadweight loss resulting from too few people receiving vaccinations.

A contract under which a buyer agrees to make payments in exchange for the provider agreeing to pay some or all of the buyer's medical bills is referred to as

Which of the following is not an argument used by economists and policymakers who are in favor of moving toward greater government involvement in health care?

Over the past 165 years in the United States,life expectancy