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What is one requirement of the Affordable Care Act?
 
A. Senior citizens must pay for their own health insurance if they can afford it.
B. The government will set up its own health insurance entity.
C. Government employees can't use private insurance companies.
D. Everyone has to obtain health care coverage.
 
 
 

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Keith Leannon
Keith LeannonLv2
13 Feb 2020

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Related questions

1. With regard to health care spending patterns, we can say that
 
A. Everybody demands the same basic level of health care
B. Health care spending varies dramatically according to governments willingness to pay for such services
C. Men demand much more medical care than women
D. The elderly need much less health care than adults do
E. Only a few people (less than 5 percent) consume more than half of all health care expenditures
 
2. Which of the following is the best example of a renewable resource?
 
A. Crude petroleum
B. The ozone layer in the atmosphere
C. Library book
D. Minerals
E. Trees
 
3. All of the following are reasons for health care expenditures in the U.S. Rising EXCEPT
A. The government (FDA) restricts entry of drugs to the U.S. Marketplace
B. The demand for health care has risen
C. The federal government has had such a small role in health care
D. The supply of physicians is restricted by the American medical association
E. Health insurance is regulated on a state by state basis so someone cannot buy a less expensive policy from an insurer in another state
 
4. Free market economists argue that
 
A. Markets will not adjust to a demand shock without government intervention
B. Markets will adjust to a demand shock without government intervention
C. Central planners are best equipped to handle external shocks and get the economy back on track
D. It would take the government too long to intervene and get the economy back on track
E. Government intervention is necessary to get the economy back on track
 
5. True or false? The health care restrictions and regulations prevent the entry and exit of firms and prevent the effect of competition on prices.
 
6. True or false? In a market system, those who own the most highly valued resources have the highest incomes.
 
7. True or false? Since consumers do not have to choose whether to use their own money for health care or for something else, the role of price as an allocation mechanism does not work in health care.
 
8. Health economics is important to study for all of the following reasons EXCEPT
 
A. Spending on health care in the U.S. exceeds $2 trillion
B. The elderly are the smallest users of health care, and the young are the major users
C. Only 1% of the population account for almost 30% of total health care expenditures
D. Health care expenditures have risen from 5.9% of GDP in 1965 to over 16% of GDP today
E. None - all of these are true
 
9. An illegal drug dealer will maximize profit by providing and selling the number of drugs where
 
A. Private costs equal social costs
B. The greatest number of consumers can be derived
C. The price is maximized
D. Private property rights are best defined
E. Marginal revenue equals marginal cost


10. People have a strong incentive to hide their true willingness-to-pay, or valuation, of a public good because taxing officials might use it to get them to pay more taxes. This is called the

a. basis for health insurance

b. free-rider problem

c. problem with externalities

d. result of congestion effects

11. All of the examples listed below, with one exception, are public goods that at times might lose some of their public good properties when they become congested. Which example is an exception?

a. A small nonprofit clinic for homeless people funded by a charitable organization

b. Discoveries made through medical research

c. Emergency departments of nonprofit hospitals

d. A large urban nonprofit hospital

12.The primary way that the U.S. government assures health care services for senior citizens through Medicare is through

a. Financing services provided by private sector firms

b. Producing services for consumers

c. Regulating the market for some services

d. Marketing services for private producers

Question 1 to 9. Choose TRUE or FALSE. WILL RATE 5 stars for a correct answer

1.

1. Flow of Funds

Direct spending by the government on health care in 2012 was almost $ 4,500.

2.

Flow of Funds

Payments to hospitals and physicians account for about half of all health care spending in 2012.

3.

Flow of Funds

Over the past 100 years, out-of-pocket expenditures for health care services by individuals have decreased from over 75% to less than 5%.

4.

Flow of Funds

Third-party payers account for 60% of all health care expenditures in 2012

5.

Flow of Funds

The dollar amount of health care expenditures paid by charitable organizations and individuals has remained roughly constant over the past 100 years if one adjusts for inflation

 

6. Flow of Funds

Ranking everyone by the amount spent on medical care, 30 percent of the total (all expenditures for all people) is accounted for by the top 1 percent of patients. The top half of the population accounts for 90 percent of total spending. This is mostly due to cost-shifting.
 

7. Flow of Funds

Not only is the share of GDP to health care higher in 2012 than in 1929, but the wages of health care workers have also risen concerning wages of other types of workers. The Flow of Funds idea emphasizes that total dollars spent by individuals, the government, and other third-party payers for health care must equal total income earned by health care providers, administrators, and other health care workers.
 

8. Equity and Distribution

Socioeconomic differences in mortality found in the U.S. are most likely attributable to a lack of universal health insurance coverage.

 

9. Shifting Overhead

When a drug company advertises it will provide a prescription drug at no charge to certain individuals who cannot afford a doctor prescribed drug, costs are most likely being shifted away from individuals who are paying high prices to those who are paying nothing.

 

10. What is Economics?

Which of the following is not an example of the fundamental theorem of exchange?

   

A. You pay a fertility specialist $10,000 to perform an in-vitro fertilization procedure that does not result in pregnancy.
   

B. You donate your old, used eyeglasses to the Lions Club, a charitable organization that recycles and distributes the glasses to needy people.
   

C. You pay a fertility specialist $10,000 to perform in vitro fertilization procedure which results in pregnancy.
   

D. Unknown to you, your neighbor is tapping into your cable tv service and sharing your service.
   

E. You pay your optometrist $500 for a new pair of eyeglasses.

11. What is Economics?

To reduce the ache in your knees when you work out, you buy an elastic knee brace from the pharmacy section at the grocery store. This transaction differs from paying a surgeon to replace your knee joint because
   

A. you require a physician

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