Exam 31: Aging, Social Security and Health Care

The elderly support ratio recorded by the U.S.Bureau of the Census in 1985 is expected to rise post 2005 because:

The following figure shows the demand (D)and supply (S)curves of human organs Figure 18.5 In Figure 18.5, the equilibrium quantity of human organs in the market is:

The aging of the American population has brought to the forefront of the nation the concern that social security is no longer a viable option for future retirees and that the financial viability of the system depends on:

The figure given below shows the demand (D₁ and D₂)and supply (S)curves of medical care. Figure 18.1 Refer to Figure 18.1.One possible reason for the shift of the demand curve from D₁ to D₂ is the:

Which of the following is a consequence of government programs like Medicare and Medicaid?

Why does the demand curve for human organs tend to be relatively price inelastic?

One of the myths about social security is that the government runs a surplus in the Social Security Trust Fund.Which of the following debunks this myth?

The figure given below represents demand for and supply of hospital beds in Anytown, U.S.A. , as shown by curves D and S₁ in the following figure.If the hospital receives permission to expand, its new supply curve will be S₂.Price level P₁ is the fixed prospective payment reimbursement rate paid by Medicare to the hospital, regardless of actual cost. Figure 18.3 According to Figure 18.3, the surplus of beds caused by the fixed reimbursement rate, before the hospital expansion, is the difference between _____ and _____.

Medicare is a federal program that provides health care for:

Empirical evidence suggests that the aging of the population stimulates the demand for health care.In the light of this observation, identify the correct statement.

A major concern about social security is that:

Health care can be regarded as a(n):

Which of the following factors are responsible for the growth of older population in the developed countries?

"Rising health care costs might be considered a vicious circle.As health care costs rise, people want more, and this drives up demand, which in turn increases health care costs." What is wrong with this statement?

The American Medical Association's payment system is an example of a:

If a futures market for human organs can be developed, everyone would tend to volunteer to donate organs as they would receive some income for almost no cost.

The demand for unskilled workers is highly price elastic.This means that a tax imposed partly on unskilled workers and partly on their employers:

Empirical evidences suggest that the expenditure on prescription drugs grew by an annual average of 15 percent since 1995.In the light of this observation which of the following statements is true?

The social security taxes that the working population pays today are used to provide benefits for current retirees.

The results of privatizing the social security system has been negative at large in most of the economies.