Question 1

How can changes over time of the average height of the people in a country help to indicate the standard of living in a country?

Accepted Answer

A person's height partly relies on nutri

Question 2

What is the main difference between a single-payer health care system and socialized medicine?

Accepted Answer

A single-payer health care system,such a

Question 3

What is the term that describes a situation in which one party to an economic transaction has less information than the other party?

Accepted Answer

A) inefficient market hypothesis 
B) asymmetric information 
C) unequal market structure 
D) monopsony 
A) inefficient market hypothesis 
B) asymmetric information 
C) unequal market structure 
D) monopsony

Question 4

In the United States in 2014,a majority of people received health care through

Accepted Answer

A) Medicare. 
B) Medicaid. 
C) their employers. 
D) individually purchased insurance policies. 
A) Medicare. 
B) Medicaid. 
C) their employers. 
D) individually purchased insurance policies.

Question 5

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 quantity is ________ thousand vaccinations.

Accepted Answer

A) 100 
B) 200 
C) 300 
D) >300 
A) 100 
B) 200 
C) 300 
D) >300

Question 6

Under the Patient Protection and Affordable Care Act (ACA),every company with more than 200 employees must offer health insurance to its employees and must automatically enroll them in the plan.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

Canada has a single-payer health care sy

Question 8

In most circumstances,employees pay taxes on the value of health insurance their employers provide them.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) Canada 
B) Japan 
C) the United Kingdom 
D) the United States 
A) Canada 
B) Japan 
C) the United Kingdom 
D) the United States

Question 10

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

Accepted Answer

A) Barack Obama 
B) Bill Clinton 
C) John F.Kennedy 
D) Harry Truman 
A) Barack Obama 
B) Bill Clinton 
C) John F.Kennedy 
D) Harry Truman

Question 11

Adverse selection refers to the actions people take after they have entered into a transaction that make the other party to the transaction worse off.

Accepted Answer

A) True 
 B)False

Question 12

In the United States in 2014,the percentage of firms that employed more than 200 workers and did not offer health insurance as a fringe benefit to the workers was about

Accepted Answer

A) 2%. 
B) 29%. 
C) 44%. 
D) 98%. 
A) 2%. 
B) 29%. 
C) 44%. 
D) 98%.

Question 13

The Congressional Budget Office estimates that the additional taxes and fees enacted under the ACA will not even cover half of the true cost of the ACA.

Accepted Answer

A) True 
 B)False

Question 14

In the United States,health care spending on people ________ is six times greater than on people ________.

Accepted Answer

A) under age 3;over age 65 
B) aged 18 to 24;25 to 44 
C) over age 65;aged 18 to 24 
D) over age 65;aged 25 to 44 
A) under age 3;over age 65 
B) aged 18 to 24;25 to 44 
C) over age 65;aged 18 to 24 
D) over age 65;aged 25 to 44

Question 15

The overall mortality rate in the United States has remained fairly constant for the past 30 years.

Accepted Answer

A) True 
 B)False

Question 16

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,they ________ of health care services than they would if they paid a price that better represented the true cost of providing the service.

Accepted Answer

A) demand a larger quantity 
B) demand a smaller quantity 
C) supply a larger quantity 
D) supply a smaller quantity 
A) demand a larger quantity 
B) demand a smaller quantity 
C) supply a larger quantity 
D) supply a smaller quantity

Question 17

How can improvements in health increase a country's total income?

Accepted Answer

Improvements in health make it possible

Question 18

Two consequences of asymmetric information are adverse selection and moral hazard.An important distinction between the two is

Accepted Answer

A) adverse selection exists prior to the completion of a transaction while moral hazard occurs after the transaction is completed. 
B) moral hazard exists prior to the completion of a transaction while adverse selection occurs after the transaction is completed. 
C) adverse selection leads to an inefficient quantity while moral hazard leads to an efficient quantity. 
D) moral hazard leads to an inefficient quantity while adverse selection leads to an efficient quantity. 
A) adverse selection exists prior to the completion of a transaction while moral hazard occurs after the transaction is completed. 
B) moral hazard exists prior to the completion of a transaction while adverse selection occurs after the transaction is completed. 
C) adverse selection leads to an inefficient quantity while moral hazard leads to an efficient quantity. 
D) moral hazard leads to an inefficient quantity while adverse selection leads to an efficient quantity.

Question 19

In the United States from 1981 to 2013,deaths from all of the following declined substantially except

Accepted Answer

A) cancer. 
B) kidney disease. 
C) heart attacks. 
D) strokes. 
A) cancer. 
B) kidney disease. 
C) heart attacks. 
D) strokes.

Question 20

Of the following high-income countries,which has the lowest life expectancy at birth?

Accepted Answer

A) Canada 
B) Japan 
C) the United Kingdom 
D) the United States 
A) Canada 
B) Japan 
C) the United Kingdom 
D) the United States

Exam 7: The Economics of Health Care

How can changes over time of the average height of the people in a country help to indicate the standard of living in a country?

What is the main difference between a single-payer health care system and socialized medicine?

What is the term that describes a situation in which one party to an economic transaction has less information than the other party?

In the United States in 2014,a majority of people received health care through

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 quantity is ________ thousand vaccinations.

Under the Patient Protection and Affordable Care Act (ACA),every company with more than 200 employees must offer health insurance to its employees and must automatically enroll them in the plan.

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

In most circumstances,employees pay taxes on the value of health insurance their employers provide them.

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

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

Adverse selection refers to the actions people take after they have entered into a transaction that make the other party to the transaction worse off.

In the United States in 2014,the percentage of firms that employed more than 200 workers and did not offer health insurance as a fringe benefit to the workers was about

The Congressional Budget Office estimates that the additional taxes and fees enacted under the ACA will not even cover half of the true cost of the ACA.

In the United States,health care spending on people ________ is six times greater than on people ________.

The overall mortality rate in the United States has remained fairly constant for the past 30 years.

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,they ________ of health care services than they would if they paid a price that better represented the true cost of providing the service.

How can improvements in health increase a country's total income?

Two consequences of asymmetric information are adverse selection and moral hazard.An important distinction between the two is

In the United States from 1981 to 2013,deaths from all of the following declined substantially except

Of the following high-income countries,which has the lowest life expectancy at birth?

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

Externalities, environmental Policy, and Public Goods

Elasticity: the Responsiveness of Demand and Supply

Firms,the Stock Market,and Corporate Governance

Comparative Advantage and the Gains From International Trade

Consumer Choice and Behavioral Economics

Technology,production,and Costs

Firms in Perfectly Competitive Markets

Monopolistic Competition: the Competitive Model in a More Realistic Setting

Oligopoly: Firms in Less Competitive Markets

Monopoly and Antitrust Policy

Pricing Strategy

The Markets for Labor and Other Factors of Production

Public Choice, taxes, and the Distribution of Income

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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In the United States,health care spending on people is six times greater than on people .