Exam 7: The Economics of Health Care

In the United States,out-of-pocket spending on health care as a percentage of all spending on health care has ________ since 1960.

Figure 7-1 Figure 7-1 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 7-1.Marginal private benefit is represented by which curve?

In the United States,out-of-pocket spending on health care was ________ percent of all health care spending in 2011.

By 2013,spending on federal health care programs such as Medicare and Medicaid had grown to 6 percent of GDP.

Since 1960,out-of-pocket spending on health care has increased sharply as a fraction of all health care spending.

Of the following U.S.presidents,which was the first to propose a national health insurance program to Congress?

The largest government-run health care system in the world,with 1.7 million employees,is in

Most employees ________ pay taxes on the value of health insurance provided by employers,and most people ________ get a tax break when buying individual health insurance policies.

Figure 7-2 Figure 7-2 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services. -Refer to Figure 7-2.If consumers paid the full price of medical services,the price they would pay is

Adverse selection occurs in the market for used cars because used car buyers

Over the past 160 years in the United States,life expectancy

Figure 7-2 Figure 7-2 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services. -Refer to Figure 7-2.With insurance and a third-party payer system,what price do consumers pay for medical services?

Basic supply and demand analysis indicates that having firms rather than the government provide health insurance to workers

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.

Of the following high-income countries,which has the highest number of CT scanners per 1 million population?

In the United States in 2012,the percentage of people who received health insurance through a government program was about

Figure 7-1 Figure 7-1 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 7-1.The market equilibrium price is

Which of the following is not an advantage to an insurance company of insuring a large group of people for health insurance?

College education tends to result in a negative externality because the recipient does not receive the full benefit of the education.

A key difficulty facing insurance companies is that people know more about their health than do insurance companies,and that those people who are seriously ill are the most likely to want to obtain health insurance.What is this phenomenon called?