Exam 4: Applications of Supply and Demand

Use the following to answer question(s): 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:

In the market for health care:

Over the last few decades government has decreased its participation in health care.

The demand curve for stocks shows that:

An important reason for the rapid increase in output in the computer industry after 1980 was:

Despite the "Great Recession" that began in 2007, oil prices rose in that same year.Why would we expect oil prices to fall and in this case why did they increase?

An area of concern in the provision of health care in the United States is that:

In terms of equity, existing farm policies tend to help:

Price controls:

In the market for personal computers and in the stock market:

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

The Oregon Plan in the 1990s for the provision of health care to people living below the poverty line generally increased the number and type of procedures for which they were eligible.

Health care is a(n):

A persistent shortage may occur if:

As discussed in the Case in Point on Arab spring and oil markets, the regime changes in Tunisia, Egypt, and Libya through 2011 resulted in:

Although health-care costs have increased recently in absolute terms, they have fallen as a percentage of total output.

In addition to setting prices, the government has attempted to help farmers by:

If the government sets out to help low-income people by establishing a maximum amount for rent:

An arrangement in which consumers choose their health-care services while other institutions pay a share of the cost of those services is called a(n) ________ payer system.

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