Chapter 21 – Health Care
1. The health care industry encompasses the following sectors, except:
2. What are the two major problems facing the health care system of the United States?
Chapter 21 – Health Care
3. The Patient Protection and Affordable Care Act (PPACA) of 2010 is designed to address a
wide-ranging set of issues including the following, except:
4. Health care spending was about how many percent of U.S. GDP in 2009?
5. About how many people were employed in the U.S. health care industry in 2009?
Chapter 21 – Health Care
6. About how many hospitals provided inpatient services in the United States in 2009?
7. The heavy reliance on private health insurance in the U.S. began during World War II, as
a:
8. In 2007, about how many percent of people with private health insurance in the U.S.
received it as an employer-provided benefit?
Chapter 21 – Health Care
9. In recent decades, the cost of health care has:
10. Health care spending in the next ten years is projected to grow at an annual rate of about:
11. The number of Americans in 2009 who did not have health insurance coverage was
approximately:
Chapter 21 – Health Care
12. Total health care expenditures in the U.S. in 2008 was about:
13. Which of the following best describes the percentage of health care spending that went to
doctors and hospitals in 2008?
14. Roughly how much of health care spending in the U.S. is financed by private and public
insurance?
Chapter 21 – Health Care
15. Approximately what portion of health care spending in the U.S. is paid by the consumer
and not by private or public insurance?
16. About what percentage of health care spending in the U.S. is financed by private health
insurance?
17. Out-of-pocket costs of health care to consumers are mostly in the form of:
Chapter 21 – Health Care
18. Which of the following is a nationwide Federal health care program available to Social
Security beneficiaries and persons with disabilities?
19. What health care program provides payment for medical benefits to certain low-income
people, including the blind, the elderly, persons with disabilities, children, and adults with
dependent children?
20. Which person would most likely be eligible to receive Medicare?
Chapter 21 – Health Care
21. Which would not be covered by Medicare? Payments for:
22. Monthly premiums for Medicare insurance that private individuals pay cover how much
of the cost of benefits provided by the program?
Chapter 21 – Health Care
24. The burden of Medicaid costs are:
25. Health care spending accounted for what percentage of U.S. GDP in 1960 and 2009?
26. Which of the following nations has the highest per capita spending on health care?
Chapter 21 – Health Care
27. Rising health care costs have the following implications, except:
28. One of the economic effects of rising health care costs in the labor market is that:
29. Many economists believe that at the current level of consumption of health care in the
United States, the marginal cost of health care for society is:
Chapter 21 – Health Care
30. The “too much of a good thing” situation in health care in the U.S. is a result of the
following causes, except:
31. About what percentage of the U.S. population had no health insurance for the entire year
in 2008?
32. Which person is least likely to have health care insurance?
Chapter 21 – Health Care
33. Most economists who have studied the health care industry have concluded that there is:
34. Those without any health insurance in the U.S. tend to be the following groups, except:
35. The medically uninsured may wait until their illness reaches a critical stage before going
to the hospital for admittance or emergency care. Hospitals in the U.S. provide how much of
this uncompensated or “free” health care services per year?
Chapter 21 – Health Care
36. The rising prices, quantities, and costs of health care in the U.S. are the result of:
37. One of the peculiarities of the U.S. market for health care is:
38. One special feature about health-care services is that society regards them as:
Chapter 21 – Health Care
39. Which of the following terms best characterizes the demand for health care?
40. The price elasticity of demand for health care is .2. This means that a 5 percent increase in
price will induce a:
41. Studies in industrially advanced nations indicate that a 3 percent increase in incomes will
generate a:
Chapter 21 – Health Care
42. Data on the income elasticity of demand for health care suggest that health care is a(n):
43. Which of the following is a demand factor in the market for health care?
44. One major factor contributing to rising health care costs is:
Chapter 21 – Health Care
45. The demand for health care in the U.S. is quite price-inelastic because of the following
reasons, except:
46. An increase in the demand for health care would most likely result from:
47. Compared to younger people, those who are 65 and older tend to consume roughly:
Chapter 21 – Health Care
48. A decrease in the demand for health care would most likely result from:
49. Which factor will tend to increase the demand for health care?
50. All other things equal, increased concern for medical ethics will:
Chapter 21 – Health Care
51. The increased practice of “defensive medicine” is a consequence of:
52. When the supplier, not the buyer, of the health care services makes most of the decisions
about the amount and type of health care to be provided, there is:
53. One of the special features of the health care market is asymmetric information. This
refers to the following characteristics, except:
Chapter 21 – Health Care
54. Why is there an asymmetric information problem in the market for health care?
55. The moral hazard problem created when consumers acquire health insurance leads them
to:
56. All of the following factors lead to overconsumption of health care, except:
Chapter 21 – Health Care
57. If the provision of medical insurance encourages people to take more health risks because
they know they can receive treatment, then health insurance:
58. Assume that health insurance pays three-fourths of the cost of health care. Under this type
of system, there will be allocative:
59. The idea that one pays a relatively small known cost for protection against an uncertain
and much larger cost is the basic principle behind: