Question 1

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

Accepted Answer

A) Individuals with pre-existing medical conditions are able to acquire health insurance. 
B) All policies must provide coverage for dependant children up to age 26. 
C) Lifetime dollar maximums on coverage are prohibited. 
D) Limits on the size of deductibles and on waiting periods before coverage takes effect have been eliminated. 
A) Individuals with pre-existing medical conditions are able to acquire health insurance. 
B) All policies must provide coverage for dependant children up to age 26. 
C) Lifetime dollar maximums on coverage are prohibited. 
D) Limits on the size of deductibles and on waiting periods before coverage takes effect have been eliminated.

Question 2

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

Accepted Answer

A) the market for citrus fruit 
B) the market for insurance 
C) farmers' markets 
D) the market for automobiles 
A) the market for citrus fruit 
B) the market for insurance 
C) farmers' markets 
D) the market for automobiles

Question 3

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.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (ACA)?

Accepted Answer

A) Individuals are allowed to opt out of the insurance program if they can prove they have no serious health issues. 
B) In 2017,fines for not having health insurance are the greater of $695 per person or 2.5 percent of income. 
C) Individuals who do not acquire health insurance will be subject to a fine. 
D) With limited exceptions,every resident of the United States is required to have health insurance that meets certain basic requirements. 
A) Individuals are allowed to opt out of the insurance program if they can prove they have no serious health issues. 
B) In 2017,fines for not having health insurance are the greater of $695 per person or 2.5 percent of income. 
C) Individuals who do not acquire health insurance will be subject to a fine. 
D) With limited exceptions,every resident of the United States is required to have health insurance that meets certain basic requirements.

Question 5

If a hospital knows that an insurance company will pay for most of a patient's bill,the hospital has more of an incentive to require additional medical procedures and tests,even if the patient may not require them.This is an example of

Accepted Answer

A) moral hazard. 
B) the principal-agent problem. 
C) asymmetric information. 
D) adverse selection. 
A) moral hazard. 
B) the principal-agent problem. 
C) asymmetric information. 
D) adverse selection.

Question 6

In the United States in 2016,________ of uninsured people live in families in which at least one member has a job.

Accepted Answer

A) less than 12% 
B) about 38% 
C) more than 70% 
D) almost 98% 
A) less than 12% 
B) about 38% 
C) more than 70% 
D) almost 98%

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

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

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.

Which of the following is not part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (ACA)?

If a hospital knows that an insurance company will pay for most of a patient's bill,the hospital has more of an incentive to require additional medical procedures and tests,even if the patient may not require them.This is an example of

In the United States in 2016,________ of uninsured people live in families in which at least one member has a job.

Economics: Foundations and Models

Trade-Offs, Comparative Advantage, and the Market System

Where Prices Come From: The Interaction of Demand and Supply

Economic Efficiency, Government Price Setting, and Taxes

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

GDP: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Long-Run Economic Growth: Sources and Policies

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money,Banks,and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, Unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

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Exam 5: The Economics of Health Care

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

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

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.

Which of the following is not part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (ACA)?

If a hospital knows that an insurance company will pay for most of a patient's bill,the hospital has more of an incentive to require additional medical procedures and tests,even if the patient may not require them.This is an example of

In the United States in 2016,________ of uninsured people live in families in which at least one member has a job.

Economics: Foundations and Models

Trade-Offs, Comparative Advantage, and the Market System

Where Prices Come From: The Interaction of Demand and Supply

Economic Efficiency, Government Price Setting, and Taxes

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

GDP: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Long-Run Economic Growth: Sources and Policies

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money,Banks,and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, Unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

Filters