Exam 5: The Economics of Health Care

Under the Patient Protection and Affordable Care Act (ACA),individuals who do not have health insurance will be subject to a fine.

Since 1981,deaths from cardiovascular diseases have decreased in the United States.

Economists who support market-based reforms for health care believe that increased competition among providers of health care would

The Congressional Budget Office estimates that ________ account(s)for less than 1 percent of health care costs in the United States.

In 2015,the average life expectancy at birth in the United Kingdom and other high-income countries was around ________ years.

Figure 5-1 Figure 5-1 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 5-1.The efficient equilibrium price is

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

The provision of the Patient Protection and Affordable Care Act (ACA)which states that,with limited exceptions,every resident of the United States must have health insurance that meets certain basic requirements is the ________ provision.

Economists John Cogan,Glenn Hubbard,and Daniel Kessler have estimated that ________ the tax preference for employer-provided health insurance would reduce spending by people enrolled in these programs by 33 percent.

The health care system in ________ is referred to as a single-payer health care system,and is a system in which the government provides national health insurance to all residents.

Although most large firms in the United States offer their employees health insurance,fewer than two-thirds accept it.

In 2015,health care's share of gross domestic product in the United States was about

Substantial co-payments are typically not required as a part of the health care system in

The Congressional Budget Office estimates that ________ of the increase in federal spending on Medicare and Medicaid over the next 75 years will be due to increases in the cost of providing health care.

Most doctors are employed by the government and most hospitals are owned by the government in

A majority of people in the United States do not have private health insurance.

________ tended to increase spending on health care in the United States.

Refer to the Article Summary.The article discusses the rising administrative costs of health care.Even if private insurance companies were more efficient and brought administrative costs down,consumers would ________ the full cost of medical treatment.This would result in the market equilibrium price and quantity of medical services being ________ than the efficient equilibrium price and quantity.

Figure 5-3 Figure 5-3 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 5-3.If consumers paid the full price of medical services,the price they would pay is

Lower deductibles for employer-provided health care will tend to shift the ________ curve for medical services to the ________.