Question 1

Nations with single payer systems typically have

Accepted Answer

A) lower tax rates than exist in the U.S. 
B) lower life expectancies than in the U.S. 
C) worse access to high-tech medical solutions than in the U.S. 
D) serious inequality in the access to basic care. 
A) lower tax rates than exist in the U.S. 
B) lower life expectancies than in the U.S. 
C) worse access to high-tech medical solutions than in the U.S. 
D) serious inequality in the access to basic care.

Question 2

According to the U.S. Census Bureau, hospitals in the United Kingdom are mostly

Accepted Answer

A) private. 
B) public. 
C) public trusts. 
D) for-profit. 
A) private. 
B) public. 
C) public trusts. 
D) for-profit.

Question 3

A cross-country analysis of health expenditures and statistics suggests that expenditures (as a percentage of GDP)in the U.S. are ____ than the rest of the world, and that treatment in the U.S. is

Accepted Answer

A) higher; less effective in some areas and more effective in other areas. 
B) lower; less effective in some areas and more effective in other areas. 
C) higher; unambiguously better in all areas 
D) higher; unambiguously worse in all areas 
A) higher; less effective in some areas and more effective in other areas. 
B) lower; less effective in some areas and more effective in other areas. 
C) higher; unambiguously better in all areas 
D) higher; unambiguously worse in all areas

Question 4

The maximum out of pocket is the

Accepted Answer

A) percentage of a covered expense that an individual will have to pay (after the deductible is met). 
B) percentage of a covered expense that an insurance company will have to pay (after the deductible is met). 
C) most of covered expense that an individual will have to pay during a year. 
D) amount of covered expense that an insurance company will have to pay before the individual pays anything. 
A) percentage of a covered expense that an individual will have to pay (after the deductible is met). 
B) percentage of a covered expense that an insurance company will have to pay (after the deductible is met). 
C) most of covered expense that an individual will have to pay during a year. 
D) amount of covered expense that an insurance company will have to pay before the individual pays anything.

Question 5

HMO insurance

Accepted Answer

A) is less expensive than fee-for-service insurance. 
B) has fewer meddlesome bureaucrats than fee-for service. 
C) does not restrict doctor choice to primary care physicians. 
D) requires all care be taken in hospitals. 
A) is less expensive than fee-for-service insurance. 
B) has fewer meddlesome bureaucrats than fee-for service. 
C) does not restrict doctor choice to primary care physicians. 
D) requires all care be taken in hospitals.

Question 6

The percentage of people without health insurance at some time during 2014 was

Accepted Answer

A) 76%. 
B) 17%. 
C) 8%. 
D) 2%. 
A) 76%. 
B) 17%. 
C) 8%. 
D) 2%.

Question 7

On health care issues, the U.S. generally spends

Accepted Answer

A) much more as a percentage of GDP than other nations. 
B) almost exactly the same percentage of GDP as other nations. 
C) much less as a percentage of GDP as other nations. 
D) a more rapidly decreasing percentage of GDP than other nations. 
A) much more as a percentage of GDP than other nations. 
B) almost exactly the same percentage of GDP as other nations. 
C) much less as a percentage of GDP as other nations. 
D) a more rapidly decreasing percentage of GDP than other nations.

Question 8

Public health care expenditures as a percent of total in France, Japan and the U.K. are

Accepted Answer

A) lower than in the U.S. 
B) exactly 100%, since these are single-payer systems. 
C) exactly the same as the percent of hospitals that are publicly-owned in these countries. 
D) greater than 75%. 
A) lower than in the U.S. 
B) exactly 100%, since these are single-payer systems. 
C) exactly the same as the percent of hospitals that are publicly-owned in these countries. 
D) greater than 75%.

Question 9

Health Care is not like other goods and services because

Accepted Answer

A) people go to the doctor to find out what is wrong whereas they get other services knowing more about what they need. 
B) we tend to like to go to the doctor and do it for enjoyment whereas we hate going to the dentist. 
C) people do not have to pay for it. 
D) there is no motive to consume more than is economically efficient. 
A) people go to the doctor to find out what is wrong whereas they get other services knowing more about what they need. 
B) we tend to like to go to the doctor and do it for enjoyment whereas we hate going to the dentist. 
C) people do not have to pay for it. 
D) there is no motive to consume more than is economically efficient.

Question 10

A single payer system in the United States would

Accepted Answer

A) decrease availability of health care services to those who are currently uninsured. 
B) necessitate a tax cut. 
C) likely increase the waiting time for certain procedures. 
D) likely fail because no other nations have tried it. 
A) decrease availability of health care services to those who are currently uninsured. 
B) necessitate a tax cut. 
C) likely increase the waiting time for certain procedures. 
D) likely fail because no other nations have tried it.

Question 11

Medicaid is the Federal Government program that provides health insurance to the

Accepted Answer

A) poor. 
B) injured. 
C) elderly. 
D) handicapped. 
A) poor. 
B) injured. 
C) elderly. 
D) handicapped.

Question 12

Which public health care program is divided between "part A" and "part B"?

Accepted Answer

A) Medicare 
B) Medicaid 
C) U)S. Health 
D) WIC 
A) Medicare 
B) Medicaid 
C) U)S. Health 
D) WIC

Question 13

Publicly provided health insurance for the poor will

Accepted Answer

A) raise the price of health care to the non-poor. 
B) raise the level of health care consumed by the non-poor. 
C) decrease the total amount of health care consumed. 
D) raise the price of health care to the non-poor and decrease the total amount of health care consumed. 
A) raise the price of health care to the non-poor. 
B) raise the level of health care consumed by the non-poor. 
C) decrease the total amount of health care consumed. 
D) raise the price of health care to the non-poor and decrease the total amount of health care consumed.

Question 14

If, over the years, the standard night in a hospital has risen in price from $200 a night to $1000 a night but now also includes amenities, then economists insist that the price

Accepted Answer

A) has risen $800 over that period. 
B) has definitely risen but by less than $800 over that period. 
C) has definitely risen and by more than $800 over that period. 
D) may have risen or fallen depending on the value of the amenities. 
A) has risen $800 over that period. 
B) has definitely risen but by less than $800 over that period. 
C) has definitely risen and by more than $800 over that period. 
D) may have risen or fallen depending on the value of the amenities.

Question 15

If the deductible is $300 and the co-payment is 20%, on a covered expense of $800 the individual will pay _____ and their insurance company will pay ______.

Accepted Answer

A) $300; $500 
B) $300; $400 
C) $400; $400 
D) $500; $300 
A) $300; $500 
B) $300; $400 
C) $400; $400 
D) $500; $300

Question 16

A deductible is the

Accepted Answer

A) percentage of a covered expense that an individual will have to pay. 
B) percentage of a covered expense that an insurance company will have to pay. 
C) amount of covered expense that an individual will have to pay before the insurance company pays anything. 
D) amount of covered expense that an insurance company will have to pay before the individual pays anything. 
A) percentage of a covered expense that an individual will have to pay. 
B) percentage of a covered expense that an insurance company will have to pay. 
C) amount of covered expense that an individual will have to pay before the insurance company pays anything. 
D) amount of covered expense that an insurance company will have to pay before the individual pays anything.

Question 17

When an insurance company pays 20% of the bill for health care services, this

Accepted Answer

A) reduces demand. 
B) reduces supply. 
C) makes demand less elastic. 
D) reduces demand and makes demand less elastic. 
A) reduces demand. 
B) reduces supply. 
C) makes demand less elastic. 
D) reduces demand and makes demand less elastic.

Question 18

If a health economist is worried that a system of health insurance will break down because, when combined with policies outlawing the use of an individual's health information in setting coverage and rates, the sickest will be the only one who will want insurance and the healthiest will go without insurance, that economist is focused on the problem of

Accepted Answer

A) moral hazard. 
B) adverse selection. 
C) mandation. 
D) lack of universal coverage. 
A) moral hazard. 
B) adverse selection. 
C) mandation. 
D) lack of universal coverage.

Question 19

In 2014 the percentage of people who were not covered by health insurance for the entire year was

Accepted Answer

A) 10%. 
B) 16%. 
C) 25%. 
D) 55%. 
A) 10%. 
B) 16%. 
C) 25%. 
D) 55%.

Question 20

Effective AIDS drugs did not exist in the early 1980s. When they became available they were very expensive. When people use these facts to say that the price of AIDS drugs has increased economists generally

Accepted Answer

A) agree. 
B) suggest that the price actually fell. 
C) note that the drugs are not as effective as advertised. 
D) stay out of this discussion. 
A) agree. 
B) suggest that the price actually fell. 
C) note that the drugs are not as effective as advertised. 
D) stay out of this discussion.

Exam 24: Health Care

Nations with single payer systems typically have

According to the U.S. Census Bureau, hospitals in the United Kingdom are mostly

A cross-country analysis of health expenditures and statistics suggests that expenditures (as a percentage of GDP)in the U.S. are ____ than the rest of the world, and that treatment in the U.S. is

The maximum out of pocket is the

HMO insurance

The percentage of people without health insurance at some time during 2014 was

On health care issues, the U.S. generally spends

Public health care expenditures as a percent of total in France, Japan and the U.K. are

Health Care is not like other goods and services because

A single payer system in the United States would

Medicaid is the Federal Government program that provides health insurance to the

Which public health care program is divided between "part A" and "part B"?

Publicly provided health insurance for the poor will

If, over the years, the standard night in a hospital has risen in price from $200 a night to $1000 a night but now also includes amenities, then economists insist that the price

If the deductible is $300 and the co-payment is 20%, on a covered expense of $800 the individual will pay _____ and their insurance company will pay ______.

A deductible is the

When an insurance company pays 20% of the bill for health care services, this

In 2014 the percentage of people who were not covered by health insurance for the entire year was

Effective AIDS drugs did not exist in the early 1980s. When they became available they were very expensive. When people use these facts to say that the price of AIDS drugs has increased economists generally

Economics: the Study of Opportunity Cost

Supply and Demand

The Concept of Elasticity and Consumer and Producer Surplus

Firm Production, Cost, and Revenue

Perfect Competition, Monopoly, and Economic Versus Normal Profit

Every Macroeconomic Word You Ever Heard: Gross Domestic Product, Inflation, Unemployment, Recession, Depression

Interest Rates and Present Value

Aggregate Demand and Aggregate Supply

Fiscal Policy

Monetary Policy

Federal Spending

Federal Deficits, Surpluses, and the National Debt

The Housing Bubble

The Recession of 2007-2009: Causes and Policy Responses

Is Economic Stagnation the New Normal

Is the Fiscalsky Falling: An Examination of Unfunded Social Security, Medicare, and State and Local Pension Liabilities

International Trade: Does It Jeopardize American Jobs

International Finance and Exchange Rates

The European Debt Crisis

Economic Growth and Development

Nafta, Gatt, Wto: Are Trade Agreements Good for Us

The Line Between Legal and Illegal Goods

Natural Resources, the Environment, and Climate Change

Government-Provided Health Insurance: Medicaid, Medicare, and the Child Health Insurance Program

The Economics of Prescription Drugs

So You Want to Be a Lawyer: Economics and the Law

The Economics of Crime

Antitrust

The Economics of Race and Discrimination

Income and Wealth Inequality

Farm Policy

Minimum Wage

Ticket Brokers and Ticket Scalping

Rent Control

Economics of K-12 Education

Economics of College and University Education

Poverty and Welfare

Head Start

Social Security

Personal Income Taxes

Energy Prices

If We Build It, Will They Come and Other Sports Questions

The Stock Market Crashes

Unions

Walmart: Always Low Prices and Low Wages- Always

The Economic Impact of Casino Gambling

The Economics of Terrorism

Filters

If the deductible is $300 and the co-payment is 20%, on a covered expense of $800 the individual will pay _ and their insurance company will pay __.