Question 1

About ________ of pharmaceutical patents are issued to U.S.firms.

Accepted Answer

A) 10 percent 
B) one-half 
C) two-thirds 
D) 90 percent 
A) 10 percent 
B) one-half 
C) two-thirds 
D) 90 percent

Question 2

In 1960,out-of-pocket spending on health care in the United States was

Accepted Answer

A) 2.2 percent. 
B) 6 percent. 
C) 48 percent. 
D) 64 percent. 
A) 2.2 percent. 
B) 6 percent. 
C) 48 percent. 
D) 64 percent.

Question 3

Briefly describe the most important differences between the market for health care and the market for other goods and services.

Accepted Answer

Doctors and hospitals that supply most h

Question 4

In 2014,________ of the uninsured were younger than age 35.

Accepted Answer

A) about 10 percent 
B) less than one-third 
C) over half 
D) almost 85 percent 
A) about 10 percent 
B) less than one-third 
C) over half 
D) almost 85 percent

Question 5

________ account(s)for between 1 and 4 percent of health care costs in the United States.

Accepted Answer

A) The aging population 
B) Uninsured patients receiving treatments at hospital emergency rooms that could have been provided less expensively at doctor's offices 
C) The payments to settle malpractice lawsuits and the premiums doctors pay for malpractice insurance 
D) Advances in medical technology 
A) The aging population 
B) Uninsured patients receiving treatments at hospital emergency rooms that could have been provided less expensively at doctor's offices 
C) The payments to settle malpractice lawsuits and the premiums doctors pay for malpractice insurance 
D) Advances in medical technology

Question 6

Between 1981 and 2013,the overall mortality rate in the United States

Accepted Answer

A) decreased by more than 25 percent. 
B) slowly but steadily increased. 
C) remained fairly constant. 
D) was similar to the average rate in most low-income countries. 
A) decreased by more than 25 percent. 
B) slowly but steadily increased. 
C) remained fairly constant. 
D) was similar to the average rate in most low-income countries.

Question 7

The Japanese system of universal health insurance requires no co-payments from residents for health services.

Accepted Answer

A) True 
 B)False

Question 8

Vaccinations tend to result in a positive externality.Draw a graph showing the market for vaccinations,including both the marginal private benefit curve and the marginal social benefit curve.Identify the market equilibrium price and quantity,the efficient equilibrium price and quantity,and the deadweight loss.

Accepted Answer

The answer of Vaccinations tend to result in a positive...

Question 9

The rising cost of uninsured patients receiving treatment at hospital emergency rooms is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States.

Accepted Answer

A) True 
 B)False

Question 10

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?

Accepted Answer

A) D1 
B) D2 
C) Supply 
D) All of the above represent marginal private benefit. 
A) D1 
B) D2 
C) Supply 
D) All of the above represent marginal private benefit.

Question 11

Figure 7-5 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 7-5.With insurance and a third-party payer system,what price do doctors receive for medical services?

Accepted Answer

A) $40 
B) $55 
C) $65 
D) > $65 
A) $40 
B) $55 
C) $65 
D) > $65

Question 12

Vaccinations tend to result in a negative externality.

Accepted Answer

A) True 
 B)False

Question 13

In the United States since 1900,life expectancy at birth has ________ and the death rate has ________.

Accepted Answer

A) increased;increased 
B) increased;decreased 
C) decreased;increased 
D) decreased;decreased 
A) increased;increased 
B) increased;decreased 
C) decreased;increased 
D) decreased;decreased

Question 14

Under the Patient Protection and Affordable Care Act (ACA),residents who do not have health insurance will not be allowed to seek employment.

Accepted Answer

A) True 
 B)False

Question 15

In the United States from 1981 to 2013,deaths from which of the following increased?

Accepted Answer

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

Question 16

The Congressional Budget Office estimates that the payments to settle malpractice lawsuits and the premiums doctors pay for malpractice insurance account for ________ of health care costs in the United States.

Accepted Answer

A) between 20 and 30 percent 
B) roughly half 
C) less than 1 percent 
D) a vast majority 
A) between 20 and 30 percent 
B) roughly half 
C) less than 1 percent 
D) a vast majority

Question 17

The number of people receiving Medicare coverage is expected to ________ by the year 2025.

Accepted Answer

A) reach 5 million by 
B) stabilize 
C) decline by 10 percent 
D) grow to 74 million 
A) reach 5 million by 
B) stabilize 
C) decline by 10 percent 
D) grow to 74 million

Question 18

All of the following are part of the "taxes" provision of the Patient Protection and Affordable Care Act (ACA)except

Accepted Answer

A) pharmaceutical firms and health insurance firms pay new taxes. 
B) investors earning more than $200,000 pay a new tax on their investment income. 
C) beginning in 2018,all taxes on employer-provided health insurance plans will be reduced or eliminated. 
D) workers earning more than $200,000 pay higher Medicare payroll taxes. 
A) pharmaceutical firms and health insurance firms pay new taxes. 
B) investors earning more than $200,000 pay a new tax on their investment income. 
C) beginning in 2018,all taxes on employer-provided health insurance plans will be reduced or eliminated. 
D) workers earning more than $200,000 pay higher Medicare payroll taxes.

Question 19

The Congressional Budget Office estimates that the Patient Protection and Affordable Care Act (ACA)will increase government spending

Accepted Answer

A) by about $2 trillion over 10 years. 
B) by more than the additional taxes and fees enacted under the law will bring in. 
C) by less than $50 billion over the next decade. 
D) by more than $20 trillion dollars over the next 5 years. 
A) by about $2 trillion over 10 years. 
B) by more than the additional taxes and fees enacted under the law will bring in. 
C) by less than $50 billion over the next decade. 
D) by more than $20 trillion dollars over the next 5 years.

Question 20

Between 1981 and 2013,deaths from cancer have increased in the United States.

Accepted Answer

A) True 
 B)False

Exam 7: The Economics of Health Care

About ________ of pharmaceutical patents are issued to U.S.firms.

In 1960,out-of-pocket spending on health care in the United States was

Briefly describe the most important differences between the market for health care and the market for other goods and services.

In 2014,________ of the uninsured were younger than age 35.

________ account(s)for between 1 and 4 percent of health care costs in the United States.

Between 1981 and 2013,the overall mortality rate in the United States

The Japanese system of universal health insurance requires no co-payments from residents for health services.

The rising cost of uninsured patients receiving treatment at hospital emergency rooms is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States.

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?

Figure 7-5 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 7-5.With insurance and a third-party payer system,what price do doctors receive for medical services?

Vaccinations tend to result in a negative externality.

In the United States since 1900,life expectancy at birth has ________ and the death rate has ________.

Under the Patient Protection and Affordable Care Act (ACA),residents who do not have health insurance will not be allowed to seek employment.

In the United States from 1981 to 2013,deaths from which of the following increased?

The Congressional Budget Office estimates that the payments to settle malpractice lawsuits and the premiums doctors pay for malpractice insurance account for ________ of health care costs in the United States.

The number of people receiving Medicare coverage is expected to ________ by the year 2025.

All of the following are part of the "taxes" provision of the Patient Protection and Affordable Care Act (ACA)except

The Congressional Budget Office estimates that the Patient Protection and Affordable Care Act (ACA)will increase government spending

Between 1981 and 2013,deaths from cancer have increased in the United States.

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

Filters

In the United States since 1900,life expectancy at birth has and the death rate has .