Exam 4: Applications of Supply and Demand

Use the following to answer questions Exhibit: Third-Party Payers -(Exhibit: Third-Party Payers) Three million physician office visits per week are available at a price of __________ per visit:

Third-party payers for health-care services include payments made by:

Use the following to answer questions Exhibit: Third-Party Payers -(Exhibit: Third-party payers) At a price of $60 with a third party payer, the total cost of health-care services compared to the price that would prevail if there were no third-party payers has:

Between 1930 and 1933, the prices received by farmers tended to:

Use the following to answer questions Exhibit: The Market for Health Care -(Exhibit: The Market for Health Care) Based on the exhibit and assuming that there are no third-party payers:

The equilibrium price established by demand and supply could be called a "just right" price because:

Farm products are normal goods, which means that as:

Third-party payer systems are most likely to ________ the quantity of health care ________.

Use the following to answer questions Exhibit: Supply and Demand in Agriculture -(Exhibit: Supply and Demand in Agriculture) To help farmers:

Use the following to answer questions Exhibit: Third-Party Payers -(Exhibit: Third-Party Payers) Based on the exhibit, and assuming there are no third-party payers:

Use the following to answer questions Exhibit: Rent Controls -According to the Case in Point on corn, the Energy Policy Act of 2005 called for _____ production of ethanol using _____.

Farm legislation has historically tried to increase farm income by:

Eliminating third-party payer systems is most likely to ________ the quantity of health care ________.

The downside to helping farmers through price supports and output restrictions has been that:

The United States is confronted with two significant problems in health care.They are:

A minimum price set above the equilibrium price is a:

Use the following to answer questions Exhibit: Rent Controls -Price ceilings which lead to shortages will impose costs on society because they:

Use the following to answer questions Exhibit: Third-Party Payers -(Exhibit: Third-Party Payers) Based on the exhibit, and assuming there are no third-party payers, the:

In markets with third-party payers,

In 2015, the percentage of total output the United States devoted to health care was about ________ percent.