Exam 5: The Economics of Health Care

In 2013,infant mortality in the United States was ________ per 1,000 live births.

Figure 5-1 Figure 5-1 represents the market for vaccinations.Vaccinations are considered a benefit to society,and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations. -Refer to Figure 5-1.The efficient equilibrium quantity is ________ thousand vaccinations.

How can increases in a country's total income improve health?

Of the following high-income countries,which has the highest male life expectancy at age 65?

Which of the following Nobel laureates became known for the study of asymmetric information?

Figure 5-3 Figure 5-3 represents the market for medical services with and without insurance,and the effect of a third-party payer system on the demand for medical services. -Refer to Figure 5-3.With insurance and a third-party payer system,what price do doctors receive for medical services?

Suppose you see a 2008 Ford Mustang GT advertised in the local newspaper for $15,000.If you knew the car was reliable,you would be willing to pay $17,000 for it.If you knew the car was unreliable,you would only be willing to pay $12,000 for it.Under what circumstances should you buy the car?

In the principal-agent relationship,the principal is

The principal-agent problem is a problem

Figure 5-1 Figure 5-1 represents the market for vaccinations.Vaccinations are considered a benefit to society,and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations. -Refer to Figure 5-1.At the efficient equilibrium,

In which of the following countries does health insurance not pay for most preventive care procedures?

By the year 2013,health care spending on Medicare,Medicaid,and other U.S.government programs as a percentage of GDP had reached a level of

A goal of ________ is to give patients an incentive to pay more attention to the prices of medical services.This would tend to increase economic efficiency by decreasing the costs of medical services

Under current tax law individuals do not pay taxes on health insurance benefits they receive from their employers.As a result

The Patient Protection and Affordable Care Act (ACA)is scheduled ________,at which point more than 30 million additional individuals are expected to have health care coverage.

Because of asymmetric information,most used cars that are offered for sale will be sold for prices that are greater than their true value.Because of this fact,the used car market falls victim to

Health insurance plans which typically reimburse doctors mainly by paying ________ are known as health maintenance organizations.

In the United States from 1981 to 2011,deaths from ________ increased largely due to the effects of increasing obesity.

In 2013,health care's share of gross domestic product in the United States was about

In 1960,out-of-pocket spending on health care in the United States was