Exam 4: Applications of Supply and Demand

Use the following to answer question(s): Third-Party Payers -(Exhibit: Third-Party Payers) When the price of $20 per visit becomes available to the consumer because of insurance:

Of the following, which would result in increasing demand in the health-care industry?

In the last 30 years, the costs of health care have _______ as a percentage of U.S.output.

Use the following to answer question(s): The Market for Health Care -(Exhibit: The Market for Health Care) When the price of P₂ becomes available to the consumer because of insurance:

According to the textbook, which of the following are suggestions to limit health-care spending?

Discuss in some detail basic alternatives that have been proposed to curtail the rise in health-care costs.

Use the following to answer question(s): 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:

Farm legislation has historically tried to increase farm income by:

Use the following to answer question(s): Rent Controls -(Exhibit: Rent Controls) Without rent controls, the equilibrium rent is _______ and the equilibrium quantity is _______ .

Use the following to answer question(s): Supply and Demand in Agriculture -(Exhibit: Supply and Demand in Agriculture) If a price floor at P₄ is set to help farmers in terms of income and government wants to assure farmers that their output will be purchased, the government would have to purchase an amount of output equal to:

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

According to the Case in Point on corn, the Energy Policy Act of 2005 called for _____ production of ethanol using _____.

Use the following to answer question(s): The Market for Health Care -(Exhibit: The Market for Health Care) The quantity Q₂ is available at price:

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

Increased spending on consumer goods such as refrigerators, TV sets, and other items of furniture is considered desirable.Why, then, is there so much concern, even frustration, about the dramatic increase in health-care expenditures?

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

Describe in general the health-care industry.In your discussion, explain the peculiarities of health care, demand and supply factors, and the major problems of the industry.

Those things held unchanged when an equilibrium price is established:

A price ceiling will have no effect if:

Use the following to answer question(s): Rent Controls -(Exhibit: Rent Controls) If rent controls are imposed, they will most likely be set at either _______ or _______ .