Exam 18: Economics of Retirement and Healthcare

The life cycle approach to healthcare puts people in the position of projecting how many resources they will need to pay for healthcare when they are old,a problem called the healthcare poverty problem.

What is expected to happen to old-age dependency ratios in the United States?

The retirement poverty problem is that

What is the difference between defined benefit and defined contribution retirement plans? Why are employers switching to defined contribution plans?

A defined benefit plan provides retirees income that varies with the market interest rate but continues for a defined number of years.

The "individual mandate" included in President Obama's health insurance reform bill was designed to address which problem?

According to the life cycle model discussed in the textbook,people tend to borrow while young,pay off debt and build wealth in their middle age,and live off savings during their retirement.

Social Security requires workers to contribute to an account that is held in their name at the Treasury and invested in government and highly rated private sector bonds.

If your retirement income from your employer's retirement plan depends on the performance of the pretax investments that you and your employer have made over time,then your employer's plan is a

An employer retirement plan that provides a predetermined monthly amount of income when you retire is called a

In 1980,__________ of full-time employees in large and midsize private firms participated in __________ plans.

In 2010,if you earned $201,000 in income,you would pay approximately __________ in taxes to fund Social Security; if you earned $1,020,000 in income,you would pay approximately __________ in taxes to fund Social Security.

Which of the following countries spends the most per capita on healthcare?

Economists who are cautious about government intervention in healthcare markets are probably worried about each of the following EXCEPT

With respect to healthcare decisions,which party is the "third" party?

Economists talk about a four-legged stool of retirement income,which includes all of the following sources of income EXCEPT

List the four possible responses to the Social Security financing gap.

Which of the following best describes the adverse selection problem in healthcare?

A 401(k)plan is a type of defined benefit plan.

President Obama's health insurance reform bill attempted to solve the healthcare poverty problem by