Question 1

Medicare's fee-for-service plan provides incentives for supplying excessive services.

Accepted Answer

A) True 
 B)False

Question 2

The most significant argument against privatizing Social Security is that

Accepted Answer

A) Benefits would have to be cut 
B) It has not worked in other countries 
C) Future benefits levels cannot be guaranteed 
D) It is too complicated to be practical 
E) Taxes would have to be raised 
A) Benefits would have to be cut 
B) It has not worked in other countries 
C) Future benefits levels cannot be guaranteed 
D) It is too complicated to be practical 
E) Taxes would have to be raised

Question 3

Health care providers are paid the amount of a patient's deductible by the health insurance company.

Accepted Answer

A) True 
 B)False

Question 4

The Following Questions Refer to the graph below.  
-The results of the bequest effect are illustrated on the graph as a movement from point

Accepted Answer

A) E to F 
B) A to C 
C) E to G 
D) F to E 
E) None of the above 
A) E to F 
B) A to C 
C) E to G 
D) F to E 
E) None of the above

Question 5

Both Social Security and Medicare are social insurance programs.

Accepted Answer

A) True 
 B)False

Question 6

Government programs that guarantee citizens financial benefits for events beyond their personal control and that are financed through tax revenues are called

Accepted Answer

A) Social insurance programs 
B) Entitlement programs 
C) Private insurance programs 
D) Welfare programs 
E) Transfer programs 
A) Social insurance programs 
B) Entitlement programs 
C) Private insurance programs 
D) Welfare programs 
E) Transfer programs

Question 7

Third-party payments for health care decrease the price consumers pay for services.

Accepted Answer

A) True 
 B)False

Question 8

About 50% of all elderly households receive some form of Social Security benefits.

Accepted Answer

A) True 
 B)False

Question 9

In a fee-for-service health care system,consumers pay the

Accepted Answer

A) Insurance company a fee every time they use a service 
B) Full cost of the services they receive 
C) HMO when they receive care 
D) Doctor a small payment called a "co-pay." 
E) Prearranged,fixed fee for services they receive 
A) Insurance company a fee every time they use a service 
B) Full cost of the services they receive 
C) HMO when they receive care 
D) Doctor a small payment called a "co-pay." 
E) Prearranged,fixed fee for services they receive

Question 10

Social Security benefits are adjusted each year for inflation using the Consumer Price Index (CPI).

Accepted Answer

A) True 
 B)False

Question 11

A dominant feature of the U.S.health care industry is price competition among providers.

Accepted Answer

A) True 
 B)False

Question 12

If I put extra into a savings account so that I can leave assets to my children to compensate them for their payments into the Social Security system,I am exhibiting which of the following effects?

Accepted Answer

A) Retirement 
B) Bequest 
C) Wealth substitution 
D) Opportunity cost 
E) None of the above 
A) Retirement 
B) Bequest 
C) Wealth substitution 
D) Opportunity cost 
E) None of the above

Question 13

Currently,the total combined tax rate collected by Social Security is

Accepted Answer

A) 21.6% of earnings 
B) 15.3% of earnings 
C) 7.65% of earnings 
D) 6.20% of earnings 
E) 1.45% of earnings 
A) 21.6% of earnings 
B) 15.3% of earnings 
C) 7.65% of earnings 
D) 6.20% of earnings 
E) 1.45% of earnings

Question 14

The amount a patient must pay above the deductible is known as co-insurancE.

Accepted Answer

A) True 
 B)False

Question 15

The substitution effect of Social Security taxes causes some people to work more hours.

Accepted Answer

A) True 
 B)False

Question 16

The empirical evidence suggests that,overall; Social Security causes people to increase their personal savings.

Accepted Answer

A) True 
 B)False

Question 17

Current projections estimate that the Social Security Trust Fund will be completely depleted

Accepted Answer

A) In late 2003 
B) During 2010-2020 
C) In about 100 years 
D) Around 2100 
E) Before 2040 
A) In late 2003 
B) During 2010-2020 
C) In about 100 years 
D) Around 2100 
E) Before 2040

Question 18

Programs that provide citizens with benefits for events that are beyond an individual person's control are called social insurance programs .

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is an example of a managed health plan?

Accepted Answer

A) HMO 
B) PPO 
C) POS 
D) Physicians Network 
E) All of the above 
A) HMO 
B) PPO 
C) POS 
D) Physicians Network 
E) All of the above

Question 20

Which of the following statements is true concerning the scope of the Social Security program?

Accepted Answer

A) Social Security has narrowed its scope over time to focus on the economic stability of the individual 
B) The scope of Social Security has remained constant throughout its history 
C) Social Security has broadened its scope over time to focus on the economic stability of the family 
D) The scope of Social Security has always focused on the family unit 
E) None of the above 
A) Social Security has narrowed its scope over time to focus on the economic stability of the individual 
B) The scope of Social Security has remained constant throughout its history 
C) Social Security has broadened its scope over time to focus on the economic stability of the family 
D) The scope of Social Security has always focused on the family unit 
E) None of the above

Medicare's fee-for-service plan provides incentives for supplying excessive services.

The most significant argument against privatizing Social Security is that

Health care providers are paid the amount of a patient's deductible by the health insurance company.

The Following Questions Refer to the graph below. -The results of the bequest effect are illustrated on the graph as a movement from point

Both Social Security and Medicare are social insurance programs.

Government programs that guarantee citizens financial benefits for events beyond their personal control and that are financed through tax revenues are called

Third-party payments for health care decrease the price consumers pay for services.

About 50% of all elderly households receive some form of Social Security benefits.

In a fee-for-service health care system,consumers pay the

Social Security benefits are adjusted each year for inflation using the Consumer Price Index (CPI).

A dominant feature of the U.S.health care industry is price competition among providers.

If I put extra into a savings account so that I can leave assets to my children to compensate them for their payments into the Social Security system,I am exhibiting which of the following effects?

Currently,the total combined tax rate collected by Social Security is

The amount a patient must pay above the deductible is known as co-insurancE.

The substitution effect of Social Security taxes causes some people to work more hours.

The empirical evidence suggests that,overall; Social Security causes people to increase their personal savings.

Current projections estimate that the Social Security Trust Fund will be completely depleted

Programs that provide citizens with benefits for events that are beyond an individual person's control are called social insurance programs .

Which of the following is an example of a managed health plan?

Which of the following statements is true concerning the scope of the Social Security program?

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Filters

Exam 15: Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

Medicare's fee-for-service plan provides incentives for supplying excessive services.

The most significant argument against privatizing Social Security is that

Health care providers are paid the amount of a patient's deductible by the health insurance company.

The Following Questions Refer to the graph below. -The results of the bequest effect are illustrated on the graph as a movement from point

Both Social Security and Medicare are social insurance programs.

Government programs that guarantee citizens financial benefits for events beyond their personal control and that are financed through tax revenues are called

Third-party payments for health care decrease the price consumers pay for services.

About 50% of all elderly households receive some form of Social Security benefits.

In a fee-for-service health care system,consumers pay the

Social Security benefits are adjusted each year for inflation using the Consumer Price Index (CPI).

A dominant feature of the U.S.health care industry is price competition among providers.

If I put extra into a savings account so that I can leave assets to my children to compensate them for their payments into the Social Security system,I am exhibiting which of the following effects?

Currently,the total combined tax rate collected by Social Security is

The amount a patient must pay above the deductible is known as co-insurancE.

The substitution effect of Social Security taxes causes some people to work more hours.

The empirical evidence suggests that,overall; Social Security causes people to increase their personal savings.

Current projections estimate that the Social Security Trust Fund will be completely depleted

Programs that provide citizens with benefits for events that are beyond an individual person's control are called social insurance programs .

Which of the following is an example of a managed health plan?

Which of the following statements is true concerning the scope of the Social Security program?

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Filters