Question 1

A reduction in the price of medical services will cause the demand curve to shift to the right.

Accepted Answer

A) True 
 B)False  False

Question 2

The Following Questions Refer to the graph below.  
-If medical care is provided free of charge,what quantity will be supplied?

Accepted Answer

A) 0 
B) 50 
C) 2,000 
D) 2,800 
E) 4,000 
A) 0 
B) 50 
C) 2,000 
D) 2,800 
E) 4,000 C

Question 3

The major underlying factor that endangers Social Security's financial stability is the population bulge created by the "baby boom" generation.

Accepted Answer

A) True 
 B)False  True

Question 4

The Following Questions Refer to the graph below.  
-The results of the retirement effect are illustrated on the graph as a movement from point

Accepted Answer

A) E to F 
B) A to C 
C) E to G 
D) F to E 
E) None of the above 
A) E to F 
B) A to C 
C) E to G 
D) F to E 
E) None of the above

Question 5

More than 70% of all privately insured employees are covered by managed care plans.

Accepted Answer

A) True 
 B)False

Question 6

The Medicare program could be secured by an increase in the payroll tax that supports the program.

Accepted Answer

A) True 
 B)False

Question 7

If your deductible is $200 and you pay co-insurance of 20%,how much will you have to pay for a $3,000 hospital stay?

Accepted Answer

A) $200 
B) $560 
C) $600 
D) $760 
E) $800 
A) $200 
B) $560 
C) $600 
D) $760 
E) $800

Question 8

Managed care plans provide incentives for supplying excessive services.

Accepted Answer

A) True 
 B)False

Question 9

When was the Medicare program established?

Accepted Answer

A) 1935 
B) 1945 
C) 1955 
D) 1965 
E) 1975 
A) 1935 
B) 1945 
C) 1955 
D) 1965 
E) 1975

Question 10

Today,the health care sector of the U.S.economy accounts for about percent of national incomE.

Accepted Answer

A) 3 
B) 5 
C) 8 
D) 12 
E) 18 
A) 3 
B) 5 
C) 8 
D) 12 
E) 18

Question 11

The Following Questions Refer to the graph below.  
-A change in consumption from CE to CF could be caused by which of the following?

Accepted Answer

A) The bequest effect 
B) The retirement effect 
C) The wealth substitution effect 
D) All of the above 
E) None of the above 
A) The bequest effect 
B) The retirement effect 
C) The wealth substitution effect 
D) All of the above 
E) None of the above

Question 12

The United States was the first nation to provide social insurance programs for its citizens.

Accepted Answer

A) True 
 B)False

Question 13

The Medicare program could be secured by increasing premiums,deductibles and co payments.

Accepted Answer

A) True 
 B)False

Question 14

Third-party payments for health care increase the quantity of services demandeD.

Accepted Answer

A) True 
 B)False

Question 15

The most important factor explaining the growth in personal health care expenditures on hospital and physician services is higher prices for these services.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following nations was the first to offer its citizens a modern social insurance program?

Accepted Answer

A) United states 
B) Great Britain 
C) Russia 
D) Germany 
E) Japan 
A) United states 
B) Great Britain 
C) Russia 
D) Germany 
E) Japan

Question 17

In the United States,Social Security was established in when President signed the Social Security Act into law.

Accepted Answer

A) 1903; Theodore Roosevelt 
B) 1929; Herbert Hoover 
C) 1965; Lyndon Johnson 
D) 1865; Abraham Lincoln 
E) 1935; Franklin Roosevelt 
A) 1903; Theodore Roosevelt 
B) 1929; Herbert Hoover 
C) 1965; Lyndon Johnson 
D) 1865; Abraham Lincoln 
E) 1935; Franklin Roosevelt

Question 18

The fee-for-service delivery and payment system is the primary means by which most elderly Americans receive their health care.

Accepted Answer

A) True 
 B)False

Question 19

If I spend more each year because I know that I will receive Social Security payments when I retire,I am exhibiting which of the following effects?

Accepted Answer

A) Retirement 
B) Bequest 
C) Wealth substitution 
D) Opportunity cost 
E) None of the above 
A) Retirement 
B) Bequest 
C) Wealth substitution 
D) Opportunity cost 
E) None of the above

Question 20

Social Security may increase the level of personal saving due to

Accepted Answer

A) The retirement effect 
B) The bequest effect 
C) The wealth substitution effect 
D) (a)and (b) 
E) (b)and (c) 
A) The retirement effect 
B) The bequest effect 
C) The wealth substitution effect 
D) (a)and (b) 
E) (b)and (c)

A reduction in the price of medical services will cause the demand curve to shift to the right.

The Following Questions Refer to the graph below. -If medical care is provided free of charge,what quantity will be supplied?

The major underlying factor that endangers Social Security's financial stability is the population bulge created by the "baby boom" generation.

The Following Questions Refer to the graph below. -The results of the retirement effect are illustrated on the graph as a movement from point

More than 70% of all privately insured employees are covered by managed care plans.

The Medicare program could be secured by an increase in the payroll tax that supports the program.

If your deductible is $200 and you pay co-insurance of 20%,how much will you have to pay for a $3,000 hospital stay?

Managed care plans provide incentives for supplying excessive services.

When was the Medicare program established?

Today,the health care sector of the U.S.economy accounts for about percent of national incomE.

The Following Questions Refer to the graph below. -A change in consumption from C_E to C_F could be caused by which of the following?

The United States was the first nation to provide social insurance programs for its citizens.

The Medicare program could be secured by increasing premiums,deductibles and co payments.

Third-party payments for health care increase the quantity of services demandeD.

The most important factor explaining the growth in personal health care expenditures on hospital and physician services is higher prices for these services.

Which of the following nations was the first to offer its citizens a modern social insurance program?

In the United States,Social Security was established in when President signed the Social Security Act into law.

The fee-for-service delivery and payment system is the primary means by which most elderly Americans receive their health care.

If I spend more each year because I know that I will receive Social Security payments when I retire,I am exhibiting which of the following effects?

Social Security may increase the level of personal saving due to

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Unemployment and Inflation: Can We Find a Balance

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Filters

Exam 15: Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

A reduction in the price of medical services will cause the demand curve to shift to the right.

The Following Questions Refer to the graph below. -If medical care is provided free of charge,what quantity will be supplied?

The major underlying factor that endangers Social Security's financial stability is the population bulge created by the "baby boom" generation.

The Following Questions Refer to the graph below. -The results of the retirement effect are illustrated on the graph as a movement from point

More than 70% of all privately insured employees are covered by managed care plans.

The Medicare program could be secured by an increase in the payroll tax that supports the program.

If your deductible is $200 and you pay co-insurance of 20%,how much will you have to pay for a $3,000 hospital stay?

Managed care plans provide incentives for supplying excessive services.

When was the Medicare program established?

Today,the health care sector of the U.S.economy accounts for about percent of national incomE.

The Following Questions Refer to the graph below. -A change in consumption from CE to CF could be caused by which of the following?

The United States was the first nation to provide social insurance programs for its citizens.

The Medicare program could be secured by increasing premiums,deductibles and co payments.

Third-party payments for health care increase the quantity of services demandeD.

The most important factor explaining the growth in personal health care expenditures on hospital and physician services is higher prices for these services.

Which of the following nations was the first to offer its citizens a modern social insurance program?

In the United States,Social Security was established in when President signed the Social Security Act into law.

The fee-for-service delivery and payment system is the primary means by which most elderly Americans receive their health care.

If I spend more each year because I know that I will receive Social Security payments when I retire,I am exhibiting which of the following effects?

Social Security may increase the level of personal saving due to

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Filters

The Following Questions Refer to the graph below. -A change in consumption from C_E to C_F could be caused by which of the following?