Question 1

About what percentage of the U.S. population had no health insurance for the entire year in 2017?

Accepted Answer

A)  3 percent
B)  9 percent
C)  25 percent
D)  33 percentE) B) and C)
F) All of the above

Question 2

Some employers have reacted to rising health care costs by hiring more part-time and temporary workers.

Accepted Answer

A) True 
 B)False

Question 3

As a percentage of GDP, U.S. health care spending is

Accepted Answer

A)  higher than that for Germany and Japan but lower than that of the United Kingdom and Sweden.
B)  higher than for any other major industrial country.
C)  lower than that for Canada.
D)  nearly identical to that of the other major industrial nations.E) A) and C)
F) A) and B)

Question 4

About what percentage of total health care spending went to doctors and hospitals (excluding nursing homes) in 2017?

Accepted Answer

A)  67 percent
B)  53 percent
C)  33 percent
D)  20 percentE) B) and C)
F) A) and D)

Question 5

What is the difference between a deductible and a copayment as it applies to medical insurance?

Accepted Answer

A deductible is the dollar sum of costs ...

Question 6

Which of the following was not an objection raised by opponents of the Patient Protection and Affordable Care Act?

Accepted Answer

A)  The revenue generated by the new taxes in the PPACA would be insufficient to cover costs of the program.
B)  The PPACA moves the United States closer to creating a national health insurance system with nonprice rationing of health care.
C)  The subsidies would lead to higher prices and increased consumption of health care.
D)  The percentage of health care spending coming directly out of consumers' pockets would increase.E) A) and B)
F) B) and D)

Question 7

Describe the origins and reasons for the establishment of health savings accounts.

Accepted Answer

A federal law enacted in 2003 establishe...

Question 8

Which person in the following list is least likely to have health care insurance?

Accepted Answer

A)  a disabled person
B)  a temporary worker in a bank
C)  an accountant employed by a large corporation
D)  a person who receives Social Security benefitsE) None of the above
F) A) and B)

Question 9

Employer-provided private health insurance in the United States has resulted in

Accepted Answer

A)  incentives that encourage the overuse of health care.
B)  incentives that discourage the use of health care, and overall poorer health.
C)  lower costs of health care as providers better achieve economies of scale.
D)  comprehensive coverage of the U.S. population, with few lacking access to adequate health care.E) None of the above
F) A) and C)

Question 10

Which of the following statements is correct?

Accepted Answer

A)  Limited access to the health care system is a major cause of rising health care costs.
B)  Rising health care costs are a major cause of limited access to the health care system.
C)  Rising health care costs have forced employers to raise real wages above labor productivity.
D)  The tax subsidy that government provides for health care causes health care to be underconsumed.E) A) and B)
F) A) and C)

Question 11

The "too much of a good thing" situation in health care in the U.S. is a result of the following causes, except

Accepted Answer

A)  the information asymmetry between health care providers and consumers.
B)  the way health care spending is financed in the U.S.
C)  the interaction between insurance and technological progress in the health care industry.
D)  the rising wages of health care workers.E) A) and C)
F) C) and D)

Question 12

The prominence of employer-provided health insurance in the U.S. is one major cause of the overconsumption and rapidly rising costs of health care in the country.

Accepted Answer

A) True 
 B)False

Question 13

The heavy reliance on private health insurance in the U.S. began during World War II, as a

Accepted Answer

A)  legal requirement for employment.
B)  patriotic duty of firms.
C)  way of imitating European employment practices.
D)  response by employers to the wage controls in effect then.E) B) and D)
F) B) and C)

Question 14

The so-called government tax subsidy for health insurance comes in the form of

Accepted Answer

A)  health-insurance benefits to employees that are treated as tax-exempt income.
B)  employer-provided insurance policies that are part of employees' compensation.
C)  government subsidies to households in the form of Medicare and Medicaid.
D)  subsidies provided to firms for offering health insurance coverage to employees.E) A) and B)
F) All of the above

Question 15

Explain the four factors that cause the demand for health care to be price inelastic.

Accepted Answer

The price elasticity of demand for healt...

Question 16

Health savings accounts (HSAs) , implemented by the 2003 Medicare law,

Accepted Answer

A)  are only available to those enrolled in Medicare.
B)  allow workers to accumulate untaxed dollars for payment of qualified medical expenses.
C)  are criticized because they require workers to "use it or lose it" each year; workers are not allowed to accumulate balances over time.
D)  can only be used to pay for prescription drugs.E) None of the above
F) A) and D)

Question 17

Rising health care costs have the following implications, except

Accepted Answer

A)  faster growth of wages to workers.
B)  a growing number of uninsured workers.
C)  large numbers of personal bankruptcies.
D)  outsourcing and off-shoring of firms' operations.E) C) and D)
F) A) and B)

Question 18

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 these uncompensated, or "free," health care services per year?

Accepted Answer

A)  about $6 billion
B)  about $12 billion
C)  about $40 billion
D)  about $65 billionE) None of the above
F) B) and C)

Question 19

In 2017, some 29 million Americans did not have health insurance.

Accepted Answer

A) True 
 B)False

Question 20

Those without any health insurance in the U.S. tend to be the following groups, except

Accepted Answer

A)  those who are in excellent health and those with the poorest health.
B)  workers in small firms.
C)  minimum-wage workers.
D)  those receiving Social Security payments.E) B) and C)
F) A) and D)

Exam 24: Health Care

Some employers have reacted to rising health care costs by hiring more part-time and temporary workers.

Correct AnswerverifiedShow Answer

About what percentage of the U.S. population had no health insurance for the entire year in 2017?

Correct AnswerverifiedShow Answer

Explain the four factors that cause the demand for health care to be price inelastic.

Correct AnswerverifiedThe price elasticity of demand for healt...View AnswerShow Answer

Describe the origins and reasons for the establishment of health savings accounts.

Correct AnswerverifiedA federal law enacted in 2003 establishe...View AnswerShow Answer

Employer-provided private health insurance in the United States has resulted in

Correct AnswerverifiedShow Answer

The heavy reliance on private health insurance in the U.S. began during World War II, as a

Correct AnswerverifiedShow Answer

Which of the following statements is correct?

Correct AnswerverifiedShow Answer

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 these uncompensated, or "free," health care services per year?

Correct AnswerverifiedShow Answer

Which of the following was not an objection raised by opponents of the Patient Protection and Affordable Care Act?

Correct AnswerverifiedShow Answer

The so-called government tax subsidy for health insurance comes in the form of

Correct AnswerverifiedShow Answer

About what percentage of total health care spending went to doctors and hospitals (excluding nursing homes) in 2017?

Correct AnswerverifiedShow Answer

As a percentage of GDP, U.S. health care spending is

Correct AnswerverifiedShow Answer

In 2017, some 29 million Americans did not have health insurance.

Correct AnswerverifiedShow Answer

The "too much of a good thing" situation in health care in the U.S. is a result of the following causes, except

Correct AnswerverifiedShow Answer

Which person in the following list is least likely to have health care insurance?

Correct AnswerverifiedShow Answer

The prominence of employer-provided health insurance in the U.S. is one major cause of the overconsumption and rapidly rising costs of health care in the country.

Correct AnswerverifiedShow Answer

Health savings accounts (HSAs) , implemented by the 2003 Medicare law,

Correct AnswerverifiedShow Answer

Those without any health insurance in the U.S. tend to be the following groups, except

Correct AnswerverifiedShow Answer

Rising health care costs have the following implications, except

Correct AnswerverifiedShow Answer

What is the difference between a deductible and a copayment as it applies to medical insurance?

Correct AnswerverifiedA deductible is the dollar sum of costs ...View AnswerShow Answer

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The price elasticity of demand for healt...
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A federal law enacted in 2003 establishe...
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A deductible is the dollar sum of costs ...
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